Strategy sells $395 million in Bitcoin and MSTR stock to buyback $81 million in STRC and build cash reserve to $4 billion

Strategy's latest Bitcoin sale lifted its 2026 disposals to 5,258 BTC, the largest amount it has sold in any year since adopting the asset in 2020, as the company redirects capital toward supporting its preferred securities.The company sold 1,638 BTC for $104.7 million between July 27 and Aug. 2 and issued about 3.01 million MSTR common shares for another $290.6 million, according to an Aug. 3 filing with the US Securities and Exchange Commission.None of the nearly $395 million raised went toward new Bitcoin purchases. Instead, Strategy used the capital to fund preferred dividends, repurchase STRC shares and complete the expansion of its US dollar reserve to $4 billion.The allocation extended its Bitcoin acquisition pause to six consecutive weeks, its longest since 2024.How Strategy Utilized its Latest Raise (Source: PurdyCapital)STRC's discount forces Strategy to redirect capitalThe most immediate obstacle to Strategy resuming Bitcoin purchases is STRC, a variable-rate preferred stock the company wants to establish as a repeatable funding source for its treasury.When STRC trades near its $100 stated amount, Strategy can issue additional shares around par and deploy the proceeds ac...