Strategy Sells 1,690 More Bitcoin and $653M of Shares as STRC Climbs Within $5 of Its Target

Verified · 11 Aug 2026BitcoinAug 11, 2026

Strategy is navigating a crisis in its Bitcoin treasury model, oscillating between forced BTC sales, purchase pauses, and resumed accumulation as STRC preferred stock stress and unrealized losses reshape its capital framework.

Strategy disclosed selling 1,690 BTC for roughly $108 million — again below its average cost — alongside raising about $653 million from MSTR share sales, lifting its dollar reserve to $4.75 billion and funding a further $109 million of STRC buybacks, per CoinDesk. The preferred now trades within about $5 of the $100 target Saylor set for September; bitcoin purchases remain paused since June. CEO Phong Le called the bitcoin sales "irrelevant" to market pricing, saying "Bitcoin alone fails to meet investor demands."

Multi-media snippets

Broader digital asset treasury company sector experiencing major discount to net asset value

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MicroStrategy's perpetual preferred securities structure creates forced Bitcoin selling

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MicroStrategy selling Bitcoin and issuing equity simultaneously to fund obligations

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MicroStrategy's equity issuance channel for funding has collapsed

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Related storylines

Corporate Bitcoin treasury cycleCorporate Bitcoin treasury model sustainability tested by selling pressure

16 sources

Strategy CEO Phong Le says selling thousands of Bitcoin is ‘irrelevant’ to market pricing · cryptobriefing.com · T2
Strategy sells 3,328 BTC for $213.3 million in two weeks to fund stock buybacks · en.coin-turk.com · T2
Big Bull Saylor Steps Up Bitcoin Selling: Strategy Announces Another Massive BTC Sale! · en.bitcoinsistemi.com · T2
Bitcoin slips 2% as MARA, Strategy report BTC selling · fxstreet.com · T2
Strategy CEO: Bitcoin alone fails to meet investor demands, leading the firm to adjust its strategy to build up cash reserves. · lookonchain.com · T2
Strategy sells 1,690 bitcoin, raises $653 million from MSTR shares · coindesk.com · T1
Strategy allocates $108 million from Bitcoin sale to buy back STRC preferred shares · en.coin-turk.com · T2
COINDESK: Strategy builds $4.75 billion cash cushion as only bitcoin isn't enough for investors · coindesk.com · T2
Strategy Sells Bitcoin Again For Cash Buffer, STRC Buyback · bitcoinmagazine.com · T1
Broader digital asset treasury company sector experiencing major discount to net asset value · youtube.com · T2
MicroStrategy's perpetual preferred securities structure creates forced Bitcoin selling · youtube.com · T2
MicroStrategy selling Bitcoin and issuing equity simultaneously to fund obligations · youtube.com · T2
Strategy has $785 million left to close STRC’s final $5 gap after selling $213 million in Bitcoin · cryptoslate.com · T2
Strategy Boosts Cash Reserves After Bitcoin Sale · cointribune.com · T2
MicroStrategy's equity issuance channel for funding has collapsed · youtube.com · T2
Strategy Boosts USD Reserve by $650M, Buys Back $109M in STRC Shares · blockonomi.com · T2

Story timeline · 22 entries

Sep 9, 2026✦ Take
STRC's Test Reported: The Paper Won
Sept 8 par-test verdict by 8-K: no BTC bought/sold; $176M STRC repurchased, buyback DOUBLED to $2B; reserves −$176M to ~$6.5B; 845,050 BTC unchanged — the war chest chose the preferred
Sep 1, 2026✦ Take 2 clips
Strategy Buys Back What It Sold
Strategy resumes buying after ten weeks — 4,603 BTC at ~$80,318 ($369.7M) from a $603M MSTR sale, remainder to STRC support; holdings 845,050 — still below June's 846,000 after summer sales of ~5,278 BTC at $59–64K
Aug 25, 2026✦ Take
Strategy Builds $6.69B Cash Reserve
Strategy raises $2B via MSTR sales, opens a discretionary $1.59B "USD Cash" pool (total USD reserves ~$6.69B, ~47 months of obligations), second straight week of no BTC purchases; 840,447 BTC unchanged
Aug 22, 2026✦ Take
Strategy Back in the Black — By 2%
BTC's move above Strategy's ~$75,385 average cost flips a reported $13B paper loss to a ~$1.4B paper profit — about 2% — while STRC hits a two-month high near its $100 September target and MSTR runs ~32% in three days
Aug 18, 2026
Strategy Pauses Coin Sales, Not the Flywheel
Strategy raises $334M via share sales while making no Bitcoin purchases and no BTC sales for the week.
Aug 11, 2026 4 clipsThis story
Strategy Sells Again, STRC Nears Par
Strategy sells another 1,690 BTC (~$108M) below cost and raises $653M from MSTR shares, lifting its reserve to $4.75B and buying $109M more STRC — now within ~$5 of the $100 par its September deadline targets
Aug 4, 2026 2 clips
Strategy Sells Below Cost, Reserve Hits $4B
Strategy sells 1,638 BTC (~$105M) at roughly $64,000 a coin — below its ~$75,400 average cost — repurchasing $81.2M of STRC near $89 and lifting its dollar reserve to $4B as the buying pause extends
Aug 1, 2026✦ Take
Strategy's $8B Loss, First BTC Sales
Strategy posts an $8.22B unrealized Q2 loss, confirms its first bitcoin sales in four years (~$218M, to fund preferred dividends), pauses buying to build a $3.75B reserve, and gives STRC until September to recover toward par
Jul 26, 2026
Strategy Plans $1.25B Bitcoin Buy
Strategy unveils $1.25B Bitcoin acquisition plan, sending MSTR shares surging 27% as purchase pause ends.
Jul 25, 2026 1 clip
Strategy Reveals BTC Floor Metric
Strategy publishes minimum BTC return threshold below which restructuring may be required, alongside new Net Bitcoin Per Share metric and $54.88B holdings dashboard
Jul 16, 2026
Strategy CEO Sets BTC Buy Trigger
Strategy CEO states debt concerns only activate below $10,000 BTC and ties Bitcoin purchase resumption to STRC reaching $100 par value
Jul 14, 2026
Strategy Pauses Bitcoin Buying Again
Strategy completes a third consecutive week without Bitcoin purchases while raising $467 million through MSTR share sales, bringing its total cash reserve to approximately $3 billion.
Jul 9, 2026
Saylor Pitches to Middle East
Saylor presents Bitcoin-funded dividend model to sovereign Middle Eastern audience and discloses $1.25B BTC sale authorization.
Jul 8, 2026
Strategy BTC Capacity and Sale Scrutinized
Mizuho cut Strategy's price target to $213 while citing 110% upside, and a VanEck executive clarified that last week's $135M BTC sale did not consume any of the board-approved monetization program quota.
Jul 7, 2026
Strategy Sells BTC, Eyes Bigger Buy
Strategy executed a confirmed 3,588 BTC sale for $216M, with Saylor publicly hinting at a larger subsequent purchase and analyst Jiang Zhuoer warning the full approved 20,000 BTC may be sold.
Jul 6, 2026✦ Take
Saylor Tracker Signals Possible BTC Buy
Saylor released a new Bitcoin Tracker post on July 6, historically preceding confirmed BTC purchases; he also published a statement on Bitcoin's four-year cycle and released a nine-point thesis on Bitcoin's next decade.
Jun 30, 2026
Strategy Sells BTC, Launches $2B Buyback
Strategy formally authorized up to $1.25B in Bitcoin sales and unveiled a $2B stock buyback alongside a new capital framework, breaking its longstanding no-sell posture.
Jun 26, 2026✦ Take
MSTR Hits 16-Month Low on BTC Losses
STRC slides 26% below par and MSTR hits a 16-month low at $85; unrealized BTC losses reported at over $13B; a securities lawsuit filed against MSTR; a director sold shares at the record-low price.
Jun 25, 2026
Strategy Hits Two-Year Low on BTC Losses
MSTR shares fell below $100 to a two-year low, unrealized losses widened to $12.6B, and analysts publicly called for a halt to BTC purchases; STRC hit new lows.
Jun 22, 2026✦ Take
Strategy Holds 846K BTC After Stress Event
Saylor confirmed Strategy holds 846,842 BTC worth $54.3B with $9.7B unrealized loss and hinted at further purchases; STRC stress context continues.
Jun 18, 2026
Strategy BTC Covers 32 Years of Dividends
Strategy confirmed its BTC reserves are sufficient for 32 years of dividends; Saylor confirmed ongoing BTC sales to fund dividends with no margin call risk; STRC preferred stock fell to a new record low below $85.
Jun 15, 2026
Strategy Buys 1,587 More Bitcoin
Strategy buys 1,587 BTC for $100M, lifting total holdings to 846,842 BTC