Inside Strategy's Bitcoin sales 🏷️

Michael Saylor's Bitcoin treasury firm has shifted gears to a "capital management framework," and hasn't bought BTC since June.

Author

Stephen Graves
August 11, 2026

📝 What you need to know

Bitcoin treasury firm Strategy hasn’t bought BTC since June, pivoting from its “never sell” stance towards a “capital management framework” under which it sells the digital asset to shore up its cash reserve and fund buybacks of its preferred stock STRC.

Under that framework, Strategy can sell up to $1.25 billion in BTC. Since it first initiated Bitcoin sales in May—including a 32 BTC sale prior to the framework, intended to “inoculate the market,”—the firm has shed 6,948 BTC, worth some $433 million. So far, markets appear unmoved, with Bitcoin trading in the $64,000 range. But the BTC sales have put a dampener on the Bitcoin treasury narrative. Users of prediction market Myriad, owned by Decrypt’s parent company Dastan, now place just a 6% chance on Strategy making it to 1 million BTC by the end of the year.

Why Strategy Is Selling Bitcoin and How Much It Has Sold So Far

The world's largest corporate Bitcoin holder Strategy has sold hundreds of millions of dollars in BTC since June.

Bitcoin · BTCAugust 11, 2026
$63,583
▼ 0.7% past 24 hours
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