The largest Bitcoin holder on the public exchange has just taken a rare step back. Strategy liquidated a total of 3,328 BTC worth $213.3 million in two consecutive phases, slightly reducing their cryptocurrency holdings. The latest sale of 1,690 BTC was executed between August 3 and August 9, yielding $108.6 million, following a previous disposal of 1,638 BTC in an earlier period.
Despite appearing to be profit-taking, CEO Phong Le assured that the company still plans to add to their Bitcoin reserves in 2026. The reason behind this cryptocurrency disposal is purely for corporate maneuvering: the sale proceeds were entirely used to buy back their preferred shares, STRC, which carry a variable yield.
Supporting the Depressed Price of STRC Shares
The STRC preferred shares product had plummeted sharply below the $75 level at the end of last June. Its price slowly crept back up to around $87 when Le spoke in a Bloomberg interview in July. To stabilize the situation and attract investor interest, Strategy also set the STRC annual dividend rate at 12% specifically for the August distribution.
On that occasion, Le laid out their future strategy regarding this product. “When Stretch (STRC) returns to par ($100), we will issue more and buy more Bitcoin,” he said. This means the coin sale is a temporary pause to repair the company’s capital structure, not a shift away from their long-term crypto accumulation strategy.
Raising Fresh Capital from the Stock Market
In addition to selling a small portion of their crypto, Strategy aggressively raised fresh funds through conventional capital market channels. The company released 6,585,329 shares of MSTR through an at-the-market (ATM) offering program, bringing in net proceeds of $653.1 million. This sale increased their adjusted outstanding shares to approximately 423.85 million shares.
Their cash ammunition is not yet depleted. The company noted that there is still room for about $11.7 billion worth of MSTR shares available to be issued through two ongoing ATM programs. Meanwhile, the board of directors also holds a $1 billion authorization to buy back MSTR common stock, funds that remain completely untouched as of August 9.
Unshaken Top Position
This series of sales shrunk Strategy’s total Bitcoin reserves from 847,363 BTC on June 22 to 840,447 BTC today. The entire crypto holdings were purchased at an average price of $75,385 per coin, reflecting an investment value of approximately $63.36 billion on the company’s balance sheet.
Although it recently offloaded hundreds of millions of dollars worth of assets to shore up the value of its preferred shares, Strategy’s position as the world’s largest corporate Bitcoin holder remains unrivaled. The question now is not whether they will buy back the digital asset, but how quickly the STRC price recovers to the $100 level to pave the way for the next buying spree. Reported by crypto.news.
Also read: What Is Bitcoin Halving?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
