Blab Crypto
Strategy Inc. Sells 1,638 BTC, Raises $290M in Equity to Strengthen Cash Reserve
On Aug 3, 2026, Strategy Inc., formerly MicroStrategy, disclosed in an SEC Form 8‑K that it sold 1,638 bitcoins for $104.7 million and issued roughly 3 million common shares for $290.6 million, adding to its USD reserve of about $4 billion. This move signals a shift from Bitcoin accumulation to liquidity management.
The bitcoins were sold at an average price of $63,957, just above the market price of $63,167 at the time. Proceeds are earmarked for dividends and preferred‑stock buybacks, not new Bitcoin purchases. The sale is the company’s second‑largest Bitcoin disposal in 2026, following a 3,588‑BTC sale earlier that year.
The equity issuance brought $290.6 million to the balance sheet. Roughly $250 million of the proceeds were transferred to the USD reserve, bringing the reserve to about $4 billion. The reserve is intended to support the company’s preferred‑stock program and maintain access to capital markets.
Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) trades around $90.60, above its June low of $70.05 but below the $100 par value. The company aims to keep the STRC price near par to preserve dividend payments and investor confidence. The recent sale of bitcoin and equity issuance are part of that objective.
For years, Strategy’s Bitcoin holdings were the focus of its business model, positioning the company as a Bitcoin proxy. The latest filing shows a different priority: liquidity and capital‑market access. The company continues to hold a large Bitcoin position, but the sale and reserve build reduce the proportion of its balance sheet tied to the cryptocurrency.
Shareholders who invested for Bitcoin exposure now face a company that is more focused on corporate finance. The preferred‑stock program, equity dilution, and dividend obligations are now central to the company’s performance. For investors seeking direct Bitcoin exposure, a spot Bitcoin ETF or direct purchase may be a clearer alternative.
The SEC filing confirms that Strategy Inc. is prioritizing liquidity and capital‑market stability over further Bitcoin accumulation. The company has sold a significant tranche of its holdings, issued new shares, and expanded its cash reserve. The impact on the company’s Bitcoin balance, preferred‑stock pricing, and shareholder returns will be monitored as the market and regulatory environment evolve.
As of the filing, Strategy still holds over 650,000 bitcoins, valued at approximately $59.7 billion at current prices. The company acquired the holdings at an average cost of $36,821 per bitcoin, according to its Q2 2026 earnings report. The sale reduces the holdings to roughly 648,362 bitcoins, but the company continues to hold a majority of the world’s corporate Bitcoin inventory.
STRC shares pay an 11.5% annual coupon, distributed monthly. The company has used the preferred‑stock program to fund dividend payments to common shareholders and to support its cash reserve. The recent buyback of $81.2 million of STRC shares, disclosed in the same filing, was aimed at keeping the preferred‑stock price close to its $100 par value.
Following the filing, Strategy’s common‑share price fell 4.2% in after‑hours trading, reflecting investor concern about dilution and the shift away from Bitcoin. The company’s filing also noted that the SEC had not yet approved any new Bitcoin‑related securities, and that the company would continue to comply with existing regulations. Analysts noted that the company’s liquidity position, now above $4 billion, provides a buffer against market volatility.
The company has not announced any plans to purchase additional Bitcoin in the next 12 months, and its board has stated that any future Bitcoin acquisition would be evaluated against the company’s liquidity needs and capital‑market conditions. This approach aligns with the company’s long‑term strategy to balance risk and return.
The bitcoins were sold at an average price of $63,957, just above the market price of $63,167 at the time. Proceeds are earmarked for dividends and preferred‑stock buybacks, not new Bitcoin purchases. The sale is the company’s second‑largest Bitcoin disposal in 2026, following a 3,588‑BTC sale earlier that year.
The equity issuance brought $290.6 million to the balance sheet. Roughly $250 million of the proceeds were transferred to the USD reserve, bringing the reserve to about $4 billion. The reserve is intended to support the company’s preferred‑stock program and maintain access to capital markets.
Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) trades around $90.60, above its June low of $70.05 but below the $100 par value. The company aims to keep the STRC price near par to preserve dividend payments and investor confidence. The recent sale of bitcoin and equity issuance are part of that objective.
For years, Strategy’s Bitcoin holdings were the focus of its business model, positioning the company as a Bitcoin proxy. The latest filing shows a different priority: liquidity and capital‑market access. The company continues to hold a large Bitcoin position, but the sale and reserve build reduce the proportion of its balance sheet tied to the cryptocurrency.
Shareholders who invested for Bitcoin exposure now face a company that is more focused on corporate finance. The preferred‑stock program, equity dilution, and dividend obligations are now central to the company’s performance. For investors seeking direct Bitcoin exposure, a spot Bitcoin ETF or direct purchase may be a clearer alternative.
The SEC filing confirms that Strategy Inc. is prioritizing liquidity and capital‑market stability over further Bitcoin accumulation. The company has sold a significant tranche of its holdings, issued new shares, and expanded its cash reserve. The impact on the company’s Bitcoin balance, preferred‑stock pricing, and shareholder returns will be monitored as the market and regulatory environment evolve.
As of the filing, Strategy still holds over 650,000 bitcoins, valued at approximately $59.7 billion at current prices. The company acquired the holdings at an average cost of $36,821 per bitcoin, according to its Q2 2026 earnings report. The sale reduces the holdings to roughly 648,362 bitcoins, but the company continues to hold a majority of the world’s corporate Bitcoin inventory.
STRC shares pay an 11.5% annual coupon, distributed monthly. The company has used the preferred‑stock program to fund dividend payments to common shareholders and to support its cash reserve. The recent buyback of $81.2 million of STRC shares, disclosed in the same filing, was aimed at keeping the preferred‑stock price close to its $100 par value.
Following the filing, Strategy’s common‑share price fell 4.2% in after‑hours trading, reflecting investor concern about dilution and the shift away from Bitcoin. The company’s filing also noted that the SEC had not yet approved any new Bitcoin‑related securities, and that the company would continue to comply with existing regulations. Analysts noted that the company’s liquidity position, now above $4 billion, provides a buffer against market volatility.
The company has not announced any plans to purchase additional Bitcoin in the next 12 months, and its board has stated that any future Bitcoin acquisition would be evaluated against the company’s liquidity needs and capital‑market conditions. This approach aligns with the company’s long‑term strategy to balance risk and return.
