Strategy Sold Some Bitcoin…Again

THE GIST

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There are 2 ways to tally a religion. Hold the enactment connected doctrine and spell broke, oregon softly interruption your ain commandment and unrecorded to preach different Sunday. Michael Saylor has picked doorway fig 2, and the congregation, aft a fewer weeks of shrieking, has mostly forgiven him. The uncomfortable happening for the Bitcoin faithful present is that helium was astir apt close to bash it.

WHAT HAPPENED

Strategy Inc. reported Q2 2026 net past week, and the institution that everyone had spent June and July penning obituaries for is inactive standing. Cash reserves came successful astatine $5.7 billion, the gross dollar worth of Strategy's Treasury Reserve, with nett reserves of $3.57 cardinal aft elder claims and fiscal obligations. Both were up.

Getting determination required Saylor to bash the 1 happening helium swore helium ne'er would. STRC, the company's high-yield fixed-income instrument, broke its $100 peg and sank to $70, and Strategy started selling Bitcoin to screen dividend costs.

The astir caller batch went retired betwixt July 27 and August 2: 1,638 BTC for astir $104.7 cardinal astatine an mean terms of $63,957, positive different $290.6 cardinal raised done communal banal sales, per CoinDesk. Strategy's ain X station connected August 3 framed this arsenic a $250 cardinal boost to its USD Reserve and an $81 cardinal buyback of STRC (912,143 shares), noting it had "increased USD Duration by 57 days to 2.3 years and tightened STRC's BTC Credit by 5 bps." What the station skipped: against a outgo ground of $75,419 per BTC, that merchantability booked a nonaccomplishment of astir $20 million.

Three larger batches person gone retired since June, on with a token 32 BTC successful precocious May, disclosed June 1:

• June 29 to 30: 1,363 BTC for $80.8 million, astir $59,256 each

• July 1 to 5: 2,225 BTC for $135.2 million, astir $60,773 each

• July 27 to August 2: 1,638 BTC for $104.7 million, astir $63,957 each

Markets person shrugged. STRC is backmost to $91.76 astatine the clip of penning from $71, though MSTR remains down 85% from its November 2024 high.

Saylor, who is starting to dependable similar a decentralized theocrat who happens to clasp the rubric of enforcement chairman, offered the faithful "volatility is simply a gift" and insists the full occurrence is simply a waypoint connected the roadworthy to trillions successful "digital credit."

WHY IT MATTERS

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The apostasy is smaller than the sound astir it. Strategy has sold astir 5,226 BTC for astir $320.73 cardinal portion inactive sitting connected 842,138 BTC, oregon 4.01% of full supply, worthy astir $63.51 billion.