Strategy sold 1,690 BTC for $108.6 million between August 3 and 9, at an average of $64,262 per coin, according to a disclosure dated August 10. It was the company's second weekly sale in a row and its fourth of 2026. Every dollar went to repurchasing about 1.15 million shares of STRC, one of its preferred stocks.
The destination is what changed. July's record sale, the 3,588 BTC sale we covered on July 7, paid preferred dividends. This one bought back the preferred shares themselves, Cointelegraph reported. STRC is the company's variable-rate preferred stock. In both cases the treasury is servicing obligations created by the securities that once funded the bitcoin buying: July's sale paid them, and August's sale retires part of them.
Retiring a preferred share returns capital and also cancels the dividend that share would have collected every quarter. Bitcoin had spent four days probing $65,000 and slipped toward $64,000 as the news circulated on Monday, CoinDesk's live coverage reported. FinanceFeeds and Coinpaper covered the filing itself.
After the sale, still the largest stack.
About $108.6M at $64,262 average.
Those shares stop collecting dividends.
Less fixed cost against the treasury.
Selling below cost, on a schedule
The disclosure puts the cost of Strategy's 840,447 BTC at about $63.36 billion, an average of $75,385 per coin. The August batch went out at $64,262, about 15 percent below that cost basis. BeInCrypto estimated the loss on this batch alone at $18.8 million.
The two prices frame the choice: $64,262 received per coin against a $75,385 average cost. Selling under its own average entry to retire stock that pays a fixed dollar dividend suggests the company values shrinking the obligation over keeping every coin. Strategy is spending bitcoin to reduce its obligations, not only to meet them.
The cadence is the second signal. Coinpaper's tally puts the four disclosed sales of 2026 at 6,916 BTC, still under one percent of the stack and far from a liquidation.
Strategy framed the July sale as an exceptional response to a dividend date. It has since sold in consecutive weeks. FinanceFeeds also reported that the company raised $653.1 million by selling 6.59 million MSTR common shares in the same week and holds a US dollar reserve of about $4.65 billion. The company is raising cash from two directions at once while retiring preferred shares.
What the market is watching
$108.6 million spread over a week is small against bitcoin's daily volume, and Monday's dip toward $64,000 was orderly. The signal is psychological. The best-known bitcoin balance sheet has moved from accumulating to actively managing a decline, weekly and at prices below its own cost basis. Treasury companies that copied the playbook in 2024 and 2025 are watching the original operator run it in reverse.
The timing adds pressure. As our CPI week setup described, the market had parked near $65,000 ahead of Wednesday's July inflation print, with sentiment in the fear zone and positioning light. A soft print that revives the rate-cut trade would lift bitcoin and restore some premium to treasury companies. That would make these filings a footnote, possibly a shrewd one if the retired preferreds were bought cheap. A hot print would do the opposite, and it would land on a market that now knows which company files on Mondays.
In July we wrote that every dividend date now came with a question attached: more sales, or a recovered premium. The sales are now weekly, and we read them as a program rather than a one-off.
