Strategy, Michael Saylor’s Bitcoin treasury firm, sold 1,690 BTC for $108.6 million in the week ended Aug. 9, according to an 8-K filed Monday. The sale reduced its Bitcoin holdings to 840,447 BTC from 842,138 BTC a week earlier. The coins were sold at an average price of $64,262, net of fees.
After the transaction, Strategy’s aggregate Bitcoin cost basis stood at $63.36 billion, or $75,385 per Bitcoin. That is $11,123 above the average price fetched by this week’s sale.
Bitcoin sale proceeds went entirely to STRC buybacks
In a post on X, Strategy said it increased its USD Reserve by $650 million and repurchased $109 million of STRC. The company also said the move increased USD Duration by 143 days to 2.7 years and tightened STRC’s BTC Credit by 10 basis points. As of Aug. 9, 2026, Strategy said it held 840,447 BTC in its BTC Reserve and $4.65 billion in its USD Reserve.
Every dollar from the Bitcoin sale was used to repurchase preferred stock. Strategy bought back 1,152,020 STRC shares for $108.6 million, exactly matching the proceeds from the BTC sale. It was the company’s third repurchase under the $1 billion Digital Credit Securities Repurchase Program announced on June 29. The authorization remaining under that program now stands at $785.2 million.
A week earlier, half of the Bitcoin sale proceeds had been used to fund preferred dividends, with the other half directed to an $81 million buyback.
Common stock issuance drove the bigger capital raise
The larger transaction for the week came from equity issuance rather than Bitcoin sales. Strategy sold 6,585,682 common shares for $653.1 million net, more than double the 3,011,361 shares sold in the previous week. Of that amount, $650 million went into the firm’s dollar reserve, while $3.1 million went to cash.
As of Aug. 9, Strategy’s dollar reserve stood at $4.65 billion, up from $4 billion.
About $429 million of the Bitcoin sale capacity has been used
Strategy abandoned its long-held “never sell” stance at the end of May, when it sold 32 BTC for $2.5 million to fund preferred distributions. That was its first Bitcoin sale since December 2022.
The company later unveiled a capital framework in June that set out when it would sell Bitcoin and allowed for as much as $1.25 billion in disposals.
Including this week’s sale, Strategy has used about $429 million of that capacity, counting $216 million in July and last week’s $104.7 million, while excluding the 32 BTC sold before the framework was introduced.
Holdings remain below the June peak
Strategy has not bought Bitcoin since June. Instead, it has been building its dollar reserve largely through stock sales as it manages $1.76 billion in annual dividend obligations. Its current holdings are 6,916 BTC below the peak of 847,363 BTC reached in June, a reduction of 0.8%.
Bitcoin traded at around $65,100 on Monday morning, up 0.4% on the day, according to CoinGecko data cited in the report. At that price, Strategy’s holdings were worth roughly $54.6 billion, below the $63.36 billion the company has paid for its Bitcoin stack.
Strategy also revised its investor metrics in July, making “net Bitcoin per share” the central measure. The metric reflects the Bitcoin remaining for common shareholders after debt and preferred claims are stripped out.