Strategy Sold $105M More Bitcoin — Here’s Why Long-Term Holders Shouldn’t Panic
Michael Saylor's Strategy trimmed its BTC stack again to fund dividends and buybacks. Here's what the sale really means for everyday holders.
If you saw headlines this week saying Michael Saylor’s Strategy is “selling Bitcoin,” take a breath before you assume the worst. The company confirmed it offloaded a small slice of its enormous BTC stash — not because it’s losing faith in Bitcoin, but to keep its books balanced and pay its bills.
What actually happened
According to a regulatory filing and figures shared by blockchain analytics platform Lookonchain, Strategy sold 1,637-1,638 BTC in the week leading up to August 2, 2026, raising roughly $102.3 million to $104.7 million depending on the source. The coins went for an average of $63,957 each, according to Decrypt’s reading of the 8-K filing.
That trim brought Strategy’s total holdings down to 842,138 BTC, from 843,775 the week before. It’s a tiny fraction of the company’s overall stack — but it’s still notable, since Strategy has spent years positioning itself as the ultimate “never sell” Bitcoin believer.
Even after the sale, Strategy remains by far the largest corporate Bitcoin holder on Earth, controlling around 4.01% of all the Bitcoin that will ever exist. Its aggregate cost basis now sits at $63.51 billion, or about $75,419 per coin — meaning this week’s sale price was actually below what the company originally paid, on average, for its stack.
Where the money went
The proceeds were split roughly down the middle. About $52.4 million went toward dividend payments owed on Strategy’s preferred stock, while the other $52.3 million helped fund an $81.2 million buyback of STRC shares — one of the preferred stock products the company uses to raise cash without touching its core Bitcoin holdings. The remaining chunk of that buyback, around $28.9 million, came from separate common stock sales rather than Bitcoin.
This marks the second STRC buyback under a $1 billion repurchase program the company announced on June 29, following a smaller $25 million purchase the previous week. Saylor summed up the move on X: “Strategy increased its USD Reserve by $250M and repurchased $81M of STRC. This increased USD Duration by 57 days to 2.3 years and tightened STRC’s BTC Credit by 5 bps.”
That reserve boost pushed Strategy’s cash cushion, known as its USD Reserve, up to roughly $4 billion — giving the company more breathing room to cover future obligations without being forced into a fire sale of its Bitcoin.
Why this matters for your holdings
Strategy hasn’t bought any new Bitcoin since June, and this is now the third round of sales in 2026 — after 32 BTC in May and 3,588 BTC between late June and early July. Each time, the company has framed it the same way: this is treasury housekeeping, not a change of heart on Bitcoin’s long-term value.
For everyday holders, the takeaway isn’t that a Bitcoin whale is quietly dumping. It’s a reminder that even the biggest corporate believers sometimes need to sell a little to keep complex financial structures like preferred stock dividends running smoothly. Strategy’s stack is still enormous, its conviction publicly unchanged, and its BTC holdings still dwarf every other public company’s by a wide margin.
That said, it’s worth watching whether these “small” sales become a regular pattern. If Strategy keeps trimming its Bitcoin every few weeks to plug cash gaps, that’s a different story than a one-off adjustment — and one that could matter if you’re relying on MSTR-linked products or watching Bitcoin’s supply dynamics closely.
Read more: Bithumb’s 2028 IPO Plan: How a $43B Bitcoin Mistake Reshaped South Korea’s Top Exchange
