Strategy Inc.'s Dual Strategy Shift: Selling Bitcoin to Raise Cash

Strategy Inc., formerly MicroStrategy and led by Executive Chairman Michael Saylor, continues to pursue its dual strategy of selling Bitcoin while raising cash through equity issuance. The company recently disclosed that it has sold a total of 6,948 Bitcoin year-to-date, generating $108.6 million in net proceeds.

The sales have been made below the company's long-term average acquisition cost, resulting in realized losses on the disposed coins. Strategy still holds an enormous Bitcoin position, with 840,447 BTC remaining on its balance sheet as of August 10, 2026.

In parallel with the Bitcoin sales, Strategy executed a significant at-the-market equity raise. The company sold 6,585,682 shares of its Class A common stock (MSTR), generating $653.1 million in net proceeds. Of this amount, $650.0 million was allocated to the USD Reserve and $3.1 million was added to the company's cash balance.

The expansion of the cash position extends the company's funding runway and reduces near-term pressure to sell additional Bitcoin solely for liquidity purposes. Strategy still has significant headroom across its at-the-market programs, with $22 billion available for future equity issuance.