Strategy CEO Phong Le said the company remains committed to increasing its Bitcoin holdings and expects to resume purchases before the end of 2026.
In a recent FOX Business interview, Le said Strategy has bought roughly 175,000 BTC since the start of the year while selling about 7,000 BTC. He said the company has therefore bought 25 times more Bitcoin than it has sold.
Strategy, led by Michael Saylor, currently owns more than 840,000 BTC, making it the biggest known corporate Bitcoin holder.
Le said the recent Bitcoin sales were part of the company’s plan to manage its money and did not mean the company is changing its long-term plans for Bitcoin.
Recent Bitcoin Sales Raise Questions
Strategy has reported four Bitcoin sales since May. Strategy recently sold 1,690 BTC for about $108.6 million during the week of August 3 to August 9. The Bitcoin was sold at an average price of $64,262 per BTC, with the proceeds used to buy back shares of its STRC preferred stock.
Before this sale, Strategy’s most recent Bitcoin purchase was in June, when it added 520 BTC for roughly $34.9 million. The company paid an average of $67,068 for each Bitcoin in that purchase.
The sales have attracted attention because Strategy has traditionally followed a strong Bitcoin accumulation strategy and has often treated Bitcoin as a long-term treasury asset. The amount sold remains relatively small compared with its total holdings.
STRC & Dollar Reserves Behind Recent Sales
Strategy’s recent activity has also been linked to its preferred stock, STRC, known as “Stretch.”
The company has used capital from Bitcoin sales and other financing activities to support preferred stock dividends, repurchase shares, and maintain its US dollar reserves.
Strategy reported around $4.65 billion in US dollar reserves following recent financing and treasury activity. Le also said the company has enough cash to cover about 2.7 years of dividend obligations.
Our BTC Credit model uses a 10% BTC ARR reference case, color-codes spreads by tier (Investment Grade, High Yield, Distressed), and shows BTC Floor prices below which instruments are undercollateralized. Track the impact of our capital markets actions: https://t.co/uTlyGWcQWW pic.twitter.com/xAfXYQoU8d
— Michael Saylor (@saylor) August 12, 2026
Michael Saylor has also pointed out the Strategy Bitcoin Credit model, which follows the companys Bitcoin-backed structure. The model takes a 10% Bitcoin return as a typical example and shows Bitcoin price points where Strategys financial tools might lose their collateral. The model offers investors another way to understand how shifts, in Bitcoin prices might impact the companys standing.
These figures reflect management’s assessment of the company’s financial position.
Bitcoin Treasury Strategy Faces Market Pressure
Strategy’s approach comes as the wider corporate Bitcoin treasury market faces pressure from weaker market conditions.
The model has relied heavily on companies raising money through shares or debt and using those funds to buy more Bitcoin. However, raising new capital becomes harder when a company’s market value falls below the value of its Bitcoin holdings.
Despite these challenges, Le’s comments suggest Strategy still views Bitcoin accumulation as a key part of its long-term strategy.
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