Strategy Turns to Bitcoin Sales to Fund Preferred-Stock Payments

Strategy has sold 1,638 BTC for approximately $105 million, according to an SEC filing dated August 3, 2026. The disposal marks a sixth consecutive week without a Bitcoin purchase for Michael Saylor’s firm, extending its departure from the accumulation strategy that had long defined the company.

The Digital Credit Capital Framework in Action

The sale is the third discrete BTC disposal Strategy has executed in 2026, following a 3,588 BTC liquidation last month and a 32 BTC sale in May, according to Arkham reporting. Strategy has used debt instruments to finance its Bitcoin treasury. With some obligations reaching maturity, the firm is using its Digital Credit Capital Framework to restructure its capital.

Proceeds from the 1,638 BTC sale are expected to fund dividend payments across Strategy’s preferred stock classes – STRC, STRK, STRD, STRF and STRE – as well as repurchases of STRC shares. Yahoo Finance’s republication of a Cryptonews report stated that the proceeds, together with $290.6 million raised through common stock issuance, funded $81.2 million in STRC preferred-stock repurchases covering 912,143 shares.

A Gap Between Cost Basis and Sale Price

The average sale price for the latest tranche was approximately $64,000 per coin, below Strategy’s overall average acquisition cost of $75,419. Arkham reported that Strategy was sitting on an estimated $10.9 billion paper loss at current prices even after the sale.

Strategy’s fiat liquidity recently climbed above $3.75 billion, according to Arkham. The Yahoo Finance-republished Cryptonews report put the company’s USD reserve at $4 billion after the transaction. Despite offloading part of its holdings, Strategy remains one of the largest corporate Bitcoin holders globally, and the $105 million sale represents a small fraction of its total portfolio.

Strategy’s Treasury Financing

Strategy’s recent sales highlight the role of its Bitcoin holdings in its broader capital structure. The company has financed its treasury with debt instruments, while the latest sale was expected to support preferred-stock dividends and STRC repurchases.

For observers following Strategy, the six-week pause in purchases and the three BTC sales in 2026 provide a record of how the company has managed liquidity while some obligations approach maturity. Arkham says its platform can be used to monitor Strategy’s holdings and corporate treasury wallets alongside official filings.

What Comes Next

According to Yahoo Finance’s republication of a Cryptonews report, Strategy said it would hold the STRC annual dividend rate at 12% and would not recommend an increase until the shares trade consistently near their $100 stated value. TheStreet reported that the last comparable multi-week pause in accumulation occurred during the 2022 bear market and that accumulation later resumed.

Whether Strategy resumes Bitcoin purchases or continues to use BTC sales as part of its capital-management approach remains unresolved. Future company filings may provide further details on its purchases, sales, liquidity and preferred-stock obligations.