Key facts
- Strategy sold 6,948 Bitcoin for $432.5 million since May.
- Sales funded preferred-stock dividends, share repurchases, and U.S. dollar cash reserves.
- The company plans to resume Bitcoin purchases before year-end.
- Strategy holds 840,447 BTC with an average cost basis of $75,385 per coin.
- The BTC Monetization Program allows sales up to $1.25 billion.
Strategy, the world's largest corporate Bitcoin accumulation vehicle, has sold thousands of Bitcoin since May to fund dividends, replenish cash reserves, and repurchase securities, pushing back against investor concerns. CEO Phong Le confirmed in a FOX Business interview that the company bought approximately 175,000 BTC in 2026 while selling only 7,000, making it a net buyer by a factor of 25x, and pledged to resume buying before year-end.
Le stated that the most recent sale, between August 3-9, involved 1,690 BTC offloaded for approximately $108.6 million at an average price of $64,262 per coin. These sales were not a retreat, with proceeds directed toward preferred-stock dividends, share repurchases, and building a U.S. dollar cash reserve that now sits at approximately $4.65 billion. Le directly stated, "We’ll get back to buying more Bitcoin throughout the course of the year."
This stance aligns with earlier assurances from both Le and Executive Chairman Michael Saylor regarding continued Bitcoin buys, where they also ruled out forced liquidations above the $8,000 BTC level. Saylor has separately reiterated his personal "never sell" conviction, though he notes that Strategy, as a public company, manages its balance sheet differently. WuBlockchain, an on-chain analyst, highlighted the 25x net-buyer ratio as a key figure drawing attention from institutional observers.
Strategy currently holds 840,447 BTC, acquired at an average cost basis of approximately $75,385 per coin. This position moved the firm from the world’s second-largest institutional Bitcoin holder to the largest during 2026. The Bitcoin accumulation program is authorized to monetize up to $1.25 billion through its BTC Monetization Program, described as a structured flexibility tool rather than an exit strategy. Strategy’s recent 1,690 BTC sale drew scrutiny from retail investors who interpreted it as a policy shift. Saylor responded swiftly, reaffirming that the company remains a net accumulator and that tactical monetization serves the preferred-stock structure rather than signaling a bearish view on BTC. Earlier this year, Saylor announced a $101 million Bitcoin purchase for Strategy, a move markets now expect to follow the current reserve-building phase. With $4.65 billion in cash and Le’s public commitment, the next buy announcement may arrive sooner than critics expect.