Strategy, the firm formerly known as MicroStrategy, plans to resume its Bitcoin accumulation program before the end of 2026. CEO Phong Le confirmed this Aug. 10, following a period in which the company recorded net sales of the digital asset.
The company's Bitcoin holdings currently stand at approximately 840,447 BTC, down from more than 846,000 BTC earlier in 2026.
Le said the sales were tactical. The objective was to strengthen Strategy's capital structure and normalize the value of its STRC preferred stock, which had drifted from management's target valuation.
Strategy remains a net buyer of Bitcoin for 2026, maintaining a 25-to-1 buy-to-sell ratio in favor of accumulation.
The path forward: Strategy will rebuild its USD reserves and stabilize STRC. Once those conditions are met, Bitcoin buying restarts.
Strategy first adopted Bitcoin as its primary treasury asset in 2020. Executive Chairman Michael Saylor guided that shift, which included a rebrand to reflect the company's identity as a crypto-focused public entity.
Saylor's thesis holds that Bitcoin is a superior store of value compared to cash and that a public company can use traditional capital markets to acquire it at scale.
The firm has funded its Bitcoin purchases through convertible notes, preferred equity offerings—including STRC—and direct equity raises.
Even modest disposals carry weight for a company that built its brand on a never-sell stance. Le frames the recent sales as capital structure optimization, not a change in conviction.
Keeping STRC at its intended value matters because wide deviations complicate future capital raises—and those raises are how Strategy acquires more Bitcoin. Selling a small amount of Bitcoin to stabilize the preferred stock, paradoxically, supports long-term accumulation by preserving the financial flexibility needed for future purchases.
Bitcoin currently trades at $63,415. Saylor continues as executive chairman, overseeing philosophical direction, while Le runs day-to-day operations as CEO.
