Strategy, the corporate Bitcoin holder formerly known as MicroStrategy, sold 1,638 Bitcoin this week. The sale, its second-largest of 2026, generated $104.73 million. Proceeds will go toward dividend payments and repurchasing preferred STRC stock.
Why the sale happened now
The company needed cash to cover its preferred stock dividend and to buy back STRC shares under a repurchase program active over the past week. This sale comes less than a month after Strategy's previous Bitcoin sale — a sign the firm is willing to tap its crypto holdings more frequently to manage capital structure obligations.
Cash reserves swell
Despite the sale, Strategy increased its USD reserves by $250 million, bringing the total to $4 billion. That suggests the company is also raising cash through other means, likely debt or equity offerings, to maintain a large war chest while selectively trimming its Bitcoin position.
Strategy still holds tens of thousands of Bitcoin. The 1,638 BTC sold is a fraction of its overall holdings. But the pace of sales is picking up — two significant disposals in under a month. Investors will watch for whether this becomes a regular pattern or a one-off tied to the preferred stock buyback cycle.
Next up
The STRC repurchase program is ongoing. Strategy hasn't said when it will stop buying back shares or whether it will sell more Bitcoin to fund further buybacks. The next quarterly dividend date will test whether the company needs another sale.
