Strategy, the corporate bitcoin heavyweight led by Michael Saylor, completed its third bitcoin sale of 2026 this week, raising its U.S. dollar reserve to $4 billion. The firm, which still holds one of the largest corporate bitcoin treasuries at 842,138 BTC, also increased its USD reserve by $250 million and repurchased $81 million in what appears to be a stock or debt buyback.
The third sale of 2026
This week's sale marks the third time Strategy has sold bitcoin this year. The company has been steadily accumulating the cryptocurrency since 2020, but 2026 has seen a shift toward periodic sales to build a cash buffer. The exact amount of bitcoin sold in this latest transaction was not disclosed, but the proceeds pushed the firm's dollar reserves to a fresh high.
Building the cash reserve
Strategy's USD reserve now stands at $4 billion, up $250 million from the previous level. The company has been explicit about its intention to hold a mix of bitcoin and cash, using the latter for potential acquisitions, debt repayments, or opportunistic purchases. The $250 million increase suggests the sale was sizable, though still a fraction of the firm's total bitcoin holdings.
The buyback
Alongside the sale, Strategy repurchased $81 million of its own securities. The move could signal management's view that its stock or debt is undervalued, or it could be part of a broader capital allocation strategy. The company has used buybacks before to return value to shareholders while maintaining its core bitcoin thesis.
Strategy now holds $4 billion in cash and 842,138 BTC — a position worth tens of billions at current market prices. The firm has not indicated whether more sales are planned this year, but the pattern of three sales in 2026 suggests a willingness to tap its bitcoin stash when needed. Investors will be watching for the next quarterly filing to see if the cash reserve grows further or if the buyback program expands.
