Catenaa, Wednesday, August 12, 2026- Strategy sold another 1,690 Bitcoin for about $108.6 million last week, extending a notable shift from relentless accumulation toward actively using its cryptocurrency holdings to manage corporate finances.
The Michael Saylor-founded company sold the Bitcoin between Aug. 3 and Aug. 9 at an average price of $64,262, according to its latest regulatory filing.
Strategy now holds 840,447 BTC, still roughly 4% of Bitcoin’s maximum 21 million supply.
Those holdings were acquired for about $63.4 billion at an average price of $75,385 per Bitcoin. At a Bitcoin value of roughly $65,000, the position remains billions of dollars below its aggregate acquisition cost.
The sale matters because Strategy spent years establishing itself as the corporate world’s most aggressive Bitcoin accumulator. Selling BTC was once almost unthinkable within the company’s public narrative.
That policy has changed.
Strategy’s recently introduced Digital Credit Capital Framework allows up to $5 billion in Bitcoin sales to finance its US dollar reserve, preferred dividends, interest obligations and securities repurchases.
Last week’s transactions show that framework operating in practice.
Strategy also sold about 6.59 million MSTR shares for $653.1 million during the week. It used proceeds to repurchase more than 1.15 million shares of its STRC preferred stock and added $650 million to its cash reserve.
That pushed the reserve to $4.65 billion as of Aug. 9.
The transactions illustrate how Strategy’s Bitcoin model is evolving from straightforward accumulation into a more complicated capital-management system involving BTC, common shares, preferred securities and cash.
Saylor has separately drawn a distinction between his personal Bitcoin philosophy and Strategy’s responsibilities as a publicly traded company. He said recently that he has never sold his personal Bitcoin while acknowledging that Strategy must operate differently.
The change comes as the wider corporate Bitcoin treasury trade faces pressure.
Nearly 200 public companies have adopted some form of Bitcoin acquisition strategy, but many treasury-company shares have fallen sharply from their 2025 highs as premiums over their underlying Bitcoin holdings contracted.
Strategy remains by far the largest corporate Bitcoin holder.
Its latest sales, however, signal something potentially more important than the amount sold: the world’s biggest corporate Bitcoin treasury is no longer functioning as a one-way vault. Bitcoin has become working capital.
