An SEC Form 8-K filed in late July disclosed the sale of 3,588 BTC for $216 million across multiple days at average prices of $59,256 and $60,773, bringing holdings to 843,775 BTC at that time. Those proceeds were directed toward preferred stock dividends and replenishing the dollar reserve. The company also raised its STRC preferred stock dividend rate to 12% under the same capital framework.
Strategy's Q2 2026 GAAP net loss of $8.6 billion was driven almost entirely by an $8.32 billion non-cash unrealized loss on bitcoin holdings under fair-value accounting. Revenue came in at $122.37 million, slightly below consensus, while diluted EPS landed at negative $24.45.
Despite the accounting loss, the company increased bitcoin holdings by 11% quarter-over-quarter, reduced convertible debt by 18% to $6.7 billion, and raised $8.4 billion in capital, including $5.5 billion in digital credit. Bitcoin per share rose 5% to 210,824 satoshis.
CEO Phong Le characterized the monetization program as a balance-sheet strengthening tool rather than a reduction in bitcoin conviction, noting that recent sales represented only about 0.4% of holdings and generated potential tax benefits through realized losses. The company authorized up to $1 billion each in STRC and MSTR repurchases, with flexibility to adjust STRC's dividend once the security returns to its $100 par value from its current level near $89.50.