Key Takeaways
- Strategy sold 3,588 BTC for $216 million on July 5, 2026, to fund dividends.
- Saylor confirmed payouts covered STRF, STRE, STRK, STRD and STRC preferred shares.
- Strategy holds 843,775 BTC and $2.55 billion in cash after the sale.
The sale brings Strategy’s bitcoin reserve down to 843,775 BTC as of July 5, 2026. The company also holds $2.55 billion in cash reserves, Saylor remarked.
Saylor confirmed the money paid for Q2 quarterly dividends on four preferred stock offerings: STRF, STRE, STRK and STRD. Strategy also used the funds to cover the full monthly dividend for June on STRC.
A Pattern of Selling to Pay Bills
This marks the third time Strategy has sold bitcoin since December 2022. The company built its reputation on a buy-and-hold strategy, rarely parting with coins from its reserve.
The most recent sale before this one happened between May 26 and May 31, 2026. Strategy sold 32 BTC for roughly $2.5 million at an average price near $77,135 per coin. The company disclosed that specific transaction in an SEC Form 8-K filing around June 1, 2026.
This latest sale is far larger. The average sale price works out to about $60,201 per bitcoin, a level well below where the May sale took place. That gap points to a lower bitcoin price environment in early July compared with late May.
What the Preferred Stock Dividends Mean
Strategy issued STRF, STRE, STRK, STRD and STRC as preferred shares that pay regular dividends to investors. These instruments give Strategy a way to raise capital without selling common stock or bitcoin outright.
When bitcoin’s price drops or cash flow tightens, the company faces a choice. It can draw from its cash reserves, raise new capital, or sell bitcoin to meet dividend obligations. This time, Strategy chose the third option.
What This Means for Traders
For traders watching Strategy’s bitcoin holdings, the sale signals that dividend obligations on the preferred stock lineup now carry real weight on the balance sheet. Selling bitcoin to cover $216 million in payouts marks a shift from the accumulation-only posture the company held for years.
The size of this sale, more than one hundred times larger than the May transaction, may draw attention from investors tracking Strategy’s cash position and its ability to keep funding dividends without further bitcoin sales.
Strategy still holds 843,775 BTC, keeping it among the largest corporate bitcoin holders. The $2.55 billion in USD reserves gives the company a cushion for near-term obligations. Whether Strategy needs to sell bitcoin again will likely depend on bitcoin’s price and the size of future dividend payments across its preferred stock lineup.
At 8:13 a.m. Eastern time, BTC had dropped below $63,000 down to the low $62,000 range and even under following Saylor’s announcement, too. But it has briefly regained strength around that price zone.
