Strategy, the publicly listed company holding the largest Bitcoin treasury, sold 1,638 BTC last week for about $104.7 million, according to a filing submitted to the U.S. Securities and Exchange Commission on Monday. The company said the proceeds will go toward preferred stock dividends, share repurchases, and U.S. dollar reserves.
The filing shows Strategy sold the 1,638 BTC between July 27 and Aug. 2 at an average price of about $63,957 per coin.
Holdings fall to 843,138 BTC
Michael Saylor, Strategy’s founder and executive chairman, later said the company now holds 843,138 BTC worth about $52.6 billion. Its average acquisition cost is about $75,419 per Bitcoin, while total purchase costs stand at roughly $63.5 billion, including fees and other related expenses.
How Strategy plans to use the cash
Strategy said the Bitcoin sale proceeds were mainly used to pay preferred stock dividends and repurchase STRC preferred shares.
Separately, the company said it sold 3,011,361 MSTR shares through its equity issuance program last week, raising about $290.6 million. As of Aug. 2, about $22.7 billion remained available under that issuance capacity.
According to the company, the funds were mainly used to add $250 million to cash reserves, bringing the total to $4 billion, repurchase $28.9 million of STRC shares, and place the remaining roughly $11.7 million into the company’s cash position.
Still holds about 4% of Bitcoin’s total supply
Even after the latest disposal, Strategy still holds about 4% of Bitcoin’s total supply. With Bitcoin capped at 21 million coins, the company remains the world’s largest corporate Bitcoin holder.
Still, with Bitcoin trading below the company’s average cost basis, Strategy is carrying an estimated $10.9 billion in unrealized losses based on current prices.
After news of the sale became public, Bitcoin briefly fell to about $62,400, while Strategy shares (MSTR) were down about 1.7% in premarket trading.
Onchain activity drew attention before the filing
A day before the formal announcement, onchain analytics platform Lookonchain said it had detected 299.8 BTC, worth about $18.9 million, moving out of a wallet tied to Strategy. The platform said the transaction pattern closely resembled fund flows seen before a Bitcoin sale disclosed in early July this year, which led to market speculation ahead of the filing.
Second-quarter loss reaches $8.2 billion
Strategy reported second-quarter results last week, posting a loss of $8.2 billion for the quarter, compared with net income of $10 billion in the same period a year earlier. The company said nearly all of the loss came from unrealized losses tied to Bitcoin’s price decline rather than actual asset sales.
By the end of the second quarter this year, Bitcoin’s price had fallen more than 40% versus the second quarter of 2025, which the company identified as the main reason its earnings swung into a loss.
On the stock side, Strategy shares fell about 0.1% last week to close at $93.28, leaving them about 80% below their 2025 high. Over the same period, Bitcoin fell about 4.1%.