Key Takeaways:
Strategy sold 1,690 bitcoin for $108.6 million and raised $653.1 million from MSTR shares, lifting its USD reserve to $4.65 billion.
The bitcoin sale, executed between Aug. 3 and Aug. 9 at an average price of $64,262, funded the repurchase of 1,152,020 shares of its variable-rate preferred stock, STRC, according to an 8-K filed with the Securities and Exchange Commission on Aug. 10.
Strategy's holdings fell to 840,447 BTC, acquired for $63.36 billion at an average of $75,385 per coin. The firm directed $650 million of the MSTR proceeds to its USD reserve, with the remaining $3.1 million added to cash. It has $785.2 million left under its preferred-stock repurchase program and $1 billion under its common-stock buyback, with $22 billion still available under its at-the-market share program.
The sales mark the latest step in Strategy's Digital Credit Capital Framework, which caps bitcoin monetization at $5 billion to fund dividends, interest and securities repurchases. Holdings still equal about 4 percent of bitcoin's 21 million supply cap, worth roughly $54.7 billion, but carry about $8.7 billion of paper losses at current prices. Bitcoin traded near $65,122, up 0.3 percent in the past 24 hours, with MSTR and STRC both up 0.5 percent in pre-market trading.
The reserve build suggests Strategy is preparing for a future acquisition rather than exiting its treasury position, a pattern Executive Chairman Michael Saylor has telegraphed in weekly "Doing ₿usiness" posts. STRC has climbed from below $75 in late June back above $95 as the company works to return the preferred stock toward its $100 par value.
The moves come as the broader bitcoin-treasury cohort struggles. MSTR remains down about 78 percent from its summer 2025 peak, with an enterprise market-cap-to-net-asset-value ratio of 1.07, according to the firm. Peers including Metaplanet, MARA, Tether-backed Twenty One and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company hold 43,000, 35,377, 43,514 and 30,021 BTC respectively, per Bitcoin Treasuries data, which counts 196 public companies running some form of bitcoin acquisition model.
This article is for informational purposes only and does not constitute investment advice.
