Strategy CEO plans Bitcoin buying after reserve drops to 840,447 BTC

Strategy CEO Phong Le said the company plans to increase its Bitcoin holdings again in 2026, after recent sales reduced its reserve to 840,447 BTC.

Le told Fox Business that Strategy expects to return to Bitcoin accumulation as the company builds its US dollar reserve and supports its preferred stock products. "We'll continue to build that. And yeah, when Stretch gets back to par, we'll issue more. We'll buy more Bitcoin," Le said in a July Bloomberg interview.

The company sold 3,328 BTC for approximately $213.3 million across two recent reporting periods. An Aug. 10 SEC filing showed Strategy sold 1,690 BTC between Aug. 3 and Aug. 9 at an average price of $64,262, receiving $108.6 million after fees. The proceeds funded the repurchase of 1,152,020 STRC preferred shares at an average of $94.29 each.

The next buying phase depends on STRC recovering to its $100 stated amount, which would allow Strategy to issue more preferred shares and fund additional Bitcoin purchases. Le said in July he wants STRC to trade between $99 and $100.

STRC recovery gates next Bitcoin purchase

Strategy has not announced a date for its next purchase, and Le's comments describe a plan for later in 2026 rather than an immediate transaction. The company's recent activity has focused on restoring STRC toward its $100 stated amount. STRC traded near $87 in mid-July after falling below $75 in late June. Strategy kept the annualized dividend rate at 12% for August despite the stock ending July below $90.

Management has been repurchasing STRC shares when they trade below the stated amount, a program the company says improves what it calls STRC's "Bitcoin credit" — a metric measuring Bitcoin and cash backing relative to preferred obligations.

Dollar reserve reaches $4.65 billion

While reducing its Bitcoin position, Strategy has increased cash available for dividends, interest payments, and other corporate obligations. The Aug. 10 filing showed Strategy sold 6,585,329 shares of MSTR common stock through at-the-market programs, generating approximately $653.1 million in net proceeds. Management placed $650 million into the company's designated US dollar reserve, lifting it from $4 billion to $4.65 billion as of Aug. 9.

In late July, Strategy reported a reserve of $3.75 billion, which management estimated could provide about 2.1 years of coverage for preferred dividends and interest payments. A subsequent $250 million contribution extended the coverage period to about 2.3 years.

Le told Fox Business that Strategy had been adding to its dollar holdings, making liquidity one of the company's current priorities. During Strategy's second-quarter earnings call, he said the company had learned the importance of holding dollars instead of relying only on Bitcoin as a liquid balance-sheet asset.

The pause in Bitcoin purchases marks a shift for the largest corporate holder of the cryptocurrency. Strategy's reserve has declined from 847,363 BTC on June 22 to 840,447 BTC following several sales, while its dollar reserve has grown. The company reported an $8.22 billion net loss for the second quarter, including an $8.32 billion unrealized loss tied to its digital asset holdings. MSTR stock fell 1.81% to $98.27 following the latest disclosure, while STRC traded at $95.26.

This article is for informational purposes only and does not constitute investment advice.