Strategy Sells Another 1,690 BTC as Capital Strategy Changes
Michael Saylor's Strategy has sold another 1,690 Bitcoin, extending a recent break from the company's long-standing pattern of almost exclusively accumulating BTC.
According to an August 10 filing with the Securities and Exchange Commission, Strategy sold 1,690 BTC between August 3 and August 9 for $108.6 million, at an average price of $64,262 per BTC. Its holdings stood at 840,447 BTC as of Sunday, acquired for an aggregate $63.36 billion at an average cost of $75,385 per coin.
The Bitcoin proceeds did not go into Strategy’s growing cash reserve. Instead, the company used the $108.6 million to repurchase approximately 1.15 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC. Another $785.2 million remains available under its broader preferred-stock repurchase program.
It was Strategy’s second consecutive weekly Bitcoin sale. Between July 27 and August 2, the company sold 1,638 BTC for roughly $104.7 million at an average price of $63,957.
Strategy increased its USD Reserve by $650M and repurchased $109M of $STRC. This increased USD Duration by 143 days to 2.7 yrs and tightened STRC’s BTC Credit by 10 bps. As of 8/9/26, we hold ₿840,447 in our BTC Reserve and $4.65B in our USD Reserve. $MSTR…
— Michael Saylor (@saylor) August 10, 2026
For Strategy, selling Bitcoin once could be dismissed as an exception. Doing it for a second week in a row is harder to ignore. The company is still holding more than 840,000 BTC, but it is also showing that those coins can be put to work when management sees an advantage elsewhere in the capital structure.
MSTR Sales Push Cash Reserve to $4.65 Billion
The cash reserve was built differently. Strategy issued approximately 6.59 million MSTR shares through its at-the-market program during the week, generating $653.1 million in net proceeds. Of that amount, $650 million went into the USD reserve, with another $3.1 million added to general cash.
That lifted the reserve from $4 billion on August 2 to $4.65 billion on August 9. At the end of June, it was just $2.55 billion.
The reserve is meant to cover preferred-stock dividends and interest on Strategy’s debt, giving the company more room to meet those payments in dollars. Yet the STRC repurchase shows that building a larger cash cushion has not made the Bitcoin treasury off-limits.
It’s important for investors to understand that Strategy did not sell BTC because it needed dollars to meet an upcoming dividend or interest payment. The company sold Bitcoin while simultaneously raising fresh cash through MSTR issuance, then directed the BTC proceeds toward reducing STRC exposure.
That is a more active use of the company’s evolving treasury model than investors had become accustomed to. For years, the Bitcoin side of Strategy’s balance sheet mostly moved in one direction. The past two weeks show management is now willing to move some of those coins when the trade-off makes sense.
There is still little here to suggest Strategy has turned against Bitcoin itself. The company continues to hold 840,447 BTC, and the sales represent only a small fraction of that position. Seen alongside the STRC repurchase and the expansion of the USD reserve, they look more like financing decisions than a change of conviction.
Michael Saylor appeared to hint at that distinction a day before the latest disclosure, posting simply: “Doing Business.”
Doing ₿usiness. pic.twitter.com/PtekVgHXDp
— Michael Saylor (@saylor) August 9, 2026
Strategy’s Selling Is Not a Broader Corporate Retreat
There is also a useful counterpoint outside Strategy. Other public companies are still finding ways to increase their Bitcoin exposure.
H100 Group said on August 10 that it had completed an acquisition adding 2,455.4 BTC at an implied price of about $62,900 per coin, lifting its total holdings to 3,506 BTC. The transaction was announced in April and was paid entirely in H100 shares rather than cash.
H100 acquires 2,455.4 Bitcoin at approx. USD 62,900 per Bitcoin, increasing total holdings to 3,506 BTC.
The transaction, announced in April, has now been completed:
– Largest M&A transaction in the European Public Bitcoin Equity sector
– World’s first Bitcoin-for-Bitcoin… pic.twitter.com/08dX9slrQH
— H100 (@H100Group) August 10, 2026
H100’s transaction was not a conventional spot-market purchase, since the acquisition was paid for in shares. Still, the direction is clear: H100 used its equity to bring more Bitcoin onto its balance sheet at the same time Strategy was selling a small part of its own position to clean up another part of its financing structure.
The two companies are not really telling opposite stories about Bitcoin. They are showing how differently public companies can use it. H100 is still building its treasury through equity, while Strategy has reached the point where part of its much larger Bitcoin position can also serve the rest of the balance sheet.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
