Strategy Sells $108.6M in Bitcoin to Buy Back STRC Preferred Stock
Strategy sold 1,690 BTC for $108.6 million to repurchase STRC preferred stock, pushing its 2026 bitcoin sales to $432 million even as it holds 840,447 BTC and hasn't bought for seven straight weeks.
BY MARISOL VEGA4 MIN READ
Strategy sold 1,690 BTC to finance a repurchase of its STRC preferred stock.
What Strategy did
Strategy sold 1,690 BTC for roughly $108.6 million and used the proceeds to repurchase shares of STRC, its variable-rate preferred stock. The move follows the roadmap Michael Saylor and Phong Le laid out on the company's Q2 investor call, where management committed to a dated plan for getting STRC back to par by early September. The sale brings Strategy's total 2026 bitcoin sales to $432 million.
Why the buying pause matters
Strategy hasn't purchased bitcoin for seven consecutive weeks, a departure from the steady weekly buying that made it one of the market's most closely watched demand signals. The company still owns 840,447 BTC, by far the largest holding among public bitcoin treasury companies, and the market reaction to the sale has been calm. But the sales do remove a source of steady buying that many investors had priced in as a floor under demand.
WHY IT MATTERS
Strategy's steady bitcoin buying has been one of the most closely watched demand signals in the market. A pivot toward balance-sheet defense over accumulation, even a temporary one, removes a buyer investors had come to expect — a shift worth tracking as other treasury companies weigh their own capital structures.
What to watch next
1.Whether Strategy resumes bitcoin purchases once STRC trades back near par, the early-September target from its Q2 call.
2.Whether other bitcoin treasury companies follow with similar buyback-over-accumulation moves.
3.STRC's price action relative to par in the coming weeks.
Frequently asked questions
What is STRC?
STRC is Strategy's variable-rate preferred stock, one of several instruments the company issued alongside its common shares to help fund bitcoin purchases.
Does this mean Strategy is bearish on bitcoin?
No. Leadership has framed the sale as balance-sheet management rather than a change in view, and the company still holds 840,447 BTC, by far the largest corporate position in the world.
How does this compare to Strategy's total 2026 sales?
At $432 million sold so far this year, it remains a small fraction of the company's overall bitcoin holdings, which are worth tens of billions of dollars.
SOURCES & DATA
Education, not financial advice. See our editorial process and corrections policy.
Marisol Vega
Bitcoin Almanack's editorial byline for Bitcoin markets, spot ETF flows, institutional activity, regulation, and daily news.
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