Strategy rebalances its holdings: selling BTC to buy back STRC and increasing its dollar reserve.
Between August 3 and 9, Strategy carried out a series of strategic operations that radically change its current market position. I recorded the sale of 1,690 BTC, and all proceeds were directed toward buying back its own preferred shares of STRC. This is not a spontaneous decision, but a calculated step within the framework of optimizing the capital structure.
According to my analysis of the report filed with the SEC, revenue from the sale of bitcoins amounted to $108.6 million at an average price of $64,262 per coin. It is important to emphasize that this price is below current market levels, indicating a deliberate choice of liquidity at the expense of potential profit. In parallel, the company sold 6.59 million MSTR shares, raising $653.1 million. Of this amount, $650 million was directed toward increasing the dollar reserve, which has now reached an impressive $4.65 billion.
As of August 9, Strategy holds 840,447 BTC, acquired for $63.36 billion. This means that the average purchase price of the entire portfolio is approximately $75,400 per coin, which still leaves the company in a profitable zone despite recent volatility.
These actions demonstrate a dual strategy: on one hand, strengthening the dollar cushion for flexibility, and on the other, supporting its own shareholders through the STRC buyback. In my practice, this is a rare example where a large BTC holder deliberately reduces exposure in favor of fiat reserves, which may signal preparation for future purchases or risk hedging.
My expert conclusion: Selling at a price below $65,000 looks like a tactical maneuver rather than a strategic exit from bitcoin. Given the scale of the reserve and the company's historical commitment to BTC, I expect these funds to be reinvested under more favorable market conditions. Investors should view this as a signal of rebalancing, not a trend reversal.