Strategy’s Bitcoin sales put markets on edge

For years, Strategy played one role in the Bitcoin market: buyer. The company formerly known as MicroStrategy accumulated Bitcoin with the consistency of someone hoarding nonperishables before a storm, never selling, always adding. That era is over. Strategy has begun selling Bitcoin, and the shift is drawing exactly the kind of attention you’d expect when the biggest marginal buyer in a market quietly changes sides. What’s actually happening The company holds somewhere between 840,447 and 843,775 BTC as of early August 2026, making it the largest corporate holder of Bitcoin on the planet by a wide margin. Despite that position, Strategy has sold 3,588 BTC in late June and early July 2026, adding to a smaller initial disposal of 32 BTC between May 26 and May 31, which raised roughly $2.5M. That first sale was the company’s first Bitcoin disposal since 2022. Total Bitcoin sales year-to-date now stand at $218.4M. The mechanism behind the selling is a new internal policy called the Digital Credit Capital Framework, which Strategy authorized in late June 2026. Under this framework, the company can sell up to $1.25B in Bitcoin to fund preferred stock dividends and bolster capital reserv...