Strategy has sold another 1,690 Bitcoin to finance a $108.6 million repurchase of its STRC preferred shares, marking the company’s second consecutive week of Bitcoin sales as it increasingly uses its BTC treasury as part of its capital-management strategy.
According to a filing with the U.S. Securities and Exchange Commission, Strategy sold 1,690 BTC for approximately $108.6 million between August 3 and August 9.
The company used the proceeds to repurchase approximately 1.15 million STRC shares at a total cost of $108.6 million.
STRC is Strategy’s variable-rate preferred stock, designed to provide investors with monthly dividend payments.
Strategy’s Bitcoin Treasury Falls to 840,447 BTC
The latest transaction represents Strategy’s fourth disclosed Bitcoin sale of 2026.
The company has now sold a total of 6,948 BTC this year, although its overall Bitcoin treasury remains enormous at approximately 840,447 BTC.
Strategy acquired those holdings for an aggregate cost of approximately $63.36 billion.
The latest Bitcoin sale was completed at an average net price of approximately $64,262 per BTC.
By comparison, Strategy’s overall Bitcoin holdings have an average acquisition price of approximately $75,385 per BTC, including fees and expenses.
The difference highlights that the company is currently selling portions of its Bitcoin treasury below its aggregate average acquisition cost.
Bitcoin Is Becoming Part of Strategy’s Funding Engine
Strategy’s latest transaction demonstrates how Bitcoin is increasingly being used as a source of liquidity within the company’s broader capital strategy.
Rather than relying exclusively on new equity or debt issuance, Strategy can monetize a portion of its Bitcoin holdings and redirect the proceeds toward other corporate priorities.
The company used the proceeds from its previous disclosed sale of 1,638 BTC for approximately $104.73 million to fund STRC repurchases as well.
The latest filing shows that Strategy still has approximately $785.2 million available under its digital credit securities repurchase program, which covers its preferred securities.
The company also has approximately $1 billion remaining under its Class A common-stock repurchase authorization.
Dollar Reserve Climbs to $4.65 Billion
At the same time, Strategy continues to build its U.S. dollar liquidity reserve.
The company reported approximately $4.65 billion in its dollar reserve as of August 9, up from roughly $4 billion in its previous weekly update.
Strategy said approximately $650 million of $653.1 million in net proceeds from recent MSTR stock sales was allocated to the reserve.
The latest figure also incorporates expected proceeds from at-the-market stock sales that had not yet settled.
The growing cash reserve provides Strategy with additional flexibility to meet obligations, including dividends associated with its preferred securities.
STRC Continues to Recover
Strategy’s STRC preferred shares have also strengthened during the company’s recent buyback activity.
STRC reclaimed the $90 level on August 3, following a recovery of approximately 24% from its June lows.
The stock was trading around $95.45 in premarket activity on Monday, up 0.46% from its previous close of approximately $95.
MSTR, Strategy’s common stock, was also slightly higher, gaining approximately 0.25% to around $100.26 in premarket trading.
Strategy Balances Bitcoin Exposure With Capital Management
The latest transaction highlights a notable evolution in Strategy’s Bitcoin treasury model.
The company remains the world’s largest corporate Bitcoin holder, but its strategy is no longer simply about accumulating as much BTC as possible.
Strategy is increasingly managing Bitcoin alongside preferred stock, common equity and cash reserves, using different parts of its balance sheet to fund corporate objectives.
Selling Bitcoin to repurchase STRC represents a reversal of the company’s traditional accumulation strategy, but it also demonstrates the flexibility created by holding such a large digital-asset treasury.
The key question for investors is whether these transactions improve long-term capital efficiency without materially weakening Strategy’s Bitcoin-per-share growth.
For now, Strategy continues to hold more than 840,000 BTC, while using a portion of that enormous reserve to support its broader financing and shareholder-return strategy.
