Strategy Sells 6,948 BTC to Maintain Dividends
Strategy sells Bitcoin to fund dividends
Strategy, formerly known as MicroStrategy, sold a significant amount of Bitcoin in August 2026. The company sold a total of 6,948 BTC, raising roughly $432.5 million. This marks the first time the company has shifted its long-standing policy of never selling its cryptocurrency holdings.
Key financial moves
- Total Bitcoin sold: 6,948 BTC for approximately $432.5 million.
- Remaining holdings: Strategy still holds 840,447 Bitcoin, acquired at an average price of $75,653.
- Dividend funding: The sales were used to fund preferred dividends and repurchase the company's own stock.
- Policy shift: CEO Phong Le stated the company will now sell Bitcoin if it is advantageous for managing debt and dividends.
Reasons for the sale
The decision to sell comes after a period of financial strain. Strategy's preferred stock, specifically STRC, traded below its $100 par value in June 2026. This created a risk that the company might not be able to pay dividends on that stock.
CEO Phong Le explained the change in strategy. "We will sell Bitcoin when it's advantageous to the company," Le said. "We're not going to sit back and just say, 'We'll never sell the Bitcoin.'" He added that the goal is to "never be a net seller" of the asset.
Market context
Strategy's balance sheet has faced challenges. In November 2024, analysts noted that the company's stock price was significantly higher than the value of its Bitcoin holdings. By 2026, this dynamic had flipped. The stock price fell below the value of its Bitcoin holdings, leading to reports of a "structural crack" in its business model.
The company also reported a loss of $12.4 billion for the fourth quarter of 2025. To manage its finances, Strategy established a USD Cash account in 2026. This account allows the company to use US dollars for general purposes, including buying Bitcoin, but is primarily focused on stabilizing its treasury operations.
Competitor sales
Strategy is not alone in selling Bitcoin. MARA Holdings sold about 15,000 BTC in March 2026, raising $1.1 billion. Riot Platforms also reported more than $250 million in BTC sales. These moves reflect a broader trend among public companies holding Bitcoin reserves.
What remains unclear
While Strategy has sold Bitcoin, it continues to hold a massive reserve. The company has not bought new Bitcoin since June 2026. It is unclear if this pause in purchases will continue or if the company will resume its aggressive accumulation strategy in the future.
Why this matters
Strategy has been a symbol of institutional adoption of Bitcoin. Its decision to sell highlights the pressures even large holders face when market conditions change. It shows that holding Bitcoin does not always guarantee profit, and companies may need liquidity to maintain their financial obligations.
Official source
The information regarding the Bitcoin sales and the company's financial position is based on reporting from Decrypt. The article references statements from CEO Phong Le and data from SaylorTracker.
