Saylor's Selling Spree Hits 6,948 BTC as Strategy Pivots From "Never Sell" to Never Stop 🧾

Strategy, the Bitcoin treasury firm led by Michael Saylor, sold 1,690 BTC for $108.6 million during the week ending Aug. 9, according to an 8-K filing on Monday, bringing the company's total 2026 bitcoin disposals to 6,948 BTC and $431.8 million in proceeds. The 1,690 coins sold last week went at an average price of $64,262 net of fees, bringing the firm's holdings to 840,447 BTC from 842,138 BTC a week earlier, acquired at an aggregate cost basis of $63.36 billion, or $75,385 per Bitcoin. Strategy directed every dollar of the BTC sale into repurchasing 1,152,020 shares of its variable-rate preferred stock, $STRC, at exactly $108.6 million under the $1 billion Digital Credit Securities Repurchase Program announced June 29, with $785.2 million of authorization remaining.

The company also raised $653.1 million net from selling 6,585,682 common $MSTR shares, more than double the 3,011,361 shares sold the previous week, directing $650 million to lift its USD reserve to $4.65 billion as of Aug. 9 and $3.1 million to cash. The USD Duration on $STRC lengthened by 143 days to 2.7 years, and the BTC Credit tightened by 10 basis points. $MSTR and $STRC were each up 0.5% in Monday pre-market trading.

Strategy's year-to-date BTC movements include purchases of 163,554 BTC for over $12.7 billion before June 21, followed by sales of 32 BTC for $2.5 million in late May, 1,363 BTC between June 29 and June 30, 2,225 BTC between July 1 and July 5, 1,638 BTC between July 27 and Aug. 2, and last week's 1,690 BTC. The Digital Credit Capital Framework unveiled in June allows up to $1.25 billion of disposals, of which Strategy has used approximately $429 million, counting $216 million in July, $104.7 million the prior week, and last week's $108.6 million, and excluding the 32 BTC that preceded the framework.

The holdings now sit 6,916 BTC, or 0.8%, below the 847,363 peak reached in June. At around $65,100, where $BTC traded Monday morning, up 0.4% on the day per CoinGecko data, the stack is worth roughly $54.6 billion, against the $63.36 billion Strategy paid for it, leaving a gap of about $9.5 billion before factoring in the $4.65 billion USD reserve. Saylor's firm has not purchased $BTC since June, building its dollar reserve against $1.76 billion in annual dividend obligations largely by selling stock.

The pivot marks a break from the company's long-held "never sell" stance; its only previous $BTC disposal was in December 2022, before buying significantly more $BTC two days later. In February 2025, when $BTC was above $84,000, Saylor said, "Sell a kidney if you must, but keep the $BTC." The asset has since fallen 24% to $64,042, and the firm has now sold $BTC in five separate 2026 transactions.