Strategy Plans More Bitcoin Buys Despite $8.22B Q2 Loss, Keeps Door Open for BTC Sales

Highlights: 

• Strategy plans to acquire more BTC, reflecting strong faith in Bitcoin’s long-term potential. 
• The company said it is also open to selling its Bitcoin holdings to improve its financial position.
• Strategy currently owns 843,775 BTC and $3.75 billion in US dollar reserves.  

The largest Bitcoin (BTC) treasury firm, Strategy, has reiterated that its long-term belief in Bitcoin has not changed. However, the company will no longer treat its Bitcoin holdings as untouchable. During its latest earnings call, the management stated that while Bitcoin remains part of its broader treasury strategy, portions of the asset can be sold in limited amounts when it benefits the business. 

This disclosure comes shortly after Strategy released its financial report for the second quarter (Q2) of the year, revealing $8.22 billion in losses due to Fair Value Charges. Executive Chairman Michael Saylor highlighted the significance of Bitcoin sales for the company. He also noted that the company still believes in Bitcoin’s long-term potential as a sustainable digital asset with significant upside.

Strategy says it will continue selling Bitcoin and no longer allocate all new capital to BTC purchases

Strategy said during its Q2 earnings call that it will continue selling Bitcoin when advantageous to replenish its USD reserve, fund preferred dividends and interest… pic.twitter.com/vkz6KGDxK9

— Wu Blockchain (@WuBlockchain) July 31, 2026

Strategy Explains How It Intends to Utilize Proceeds from Bitcoin Sales

Aside from improving the company’s financial position, executives noted that proceeds from Bitcoin sales could be used to strengthen liquidity, support dividend payments on preferred shares, fund share buybacks when necessary, lower financing costs, or improve long-term returns for shareholders.   

The company management said the whole sales idea is about giving the company more financial flexibility rather than following a strict rule of never selling Bitcoin. Even with the new approach, Strategy emphasized that buying Bitcoin remains a key part of its long-term plans. The Company’s Chief Executive Officer (CEO) Phong Le said subsequent Bitcoin purchases will depend on shareholders and capital markets conditions. 

Strategy also plans to continue raising money through equity and other financing methods only when those deals increase Bitcoin per share and benefit investors. One of the major metrics utilized by Strategy is its multiple of net asset value (mNAV). When this metric is above one, issuing new shares to buy more BTC is generally expected to add value for shareholders by increasing Bitcoin per share.

Strategy’s Market Activities Reflect Strong Faith in Bitcoin

During the first seven months of this year, Strategy acquired 174,895 BTC and sold 3,620 BTC, increasing its total Bitcoin holdings by 25% since the beginning of the year. The company has also raised $17 billion through different funding methods during the same period. As of July 26, Strategy has 843,775 BTC in its treasury, making it the largest institutional Bitcoin holder in the world. 

The company reported a 4.5% BTC yield so far this year. Notably, Bitcoin-related programs have generated $1.95 billion in BTC gains. In addition, Strategy repurchased 288,930 STRC shares for about $25 million, paying an average of $86.53 per share. Cash reserves also grew significantly, with the company now holding $3.75 billion in US dollar reserves. 

Strategy reported:

“Strategy’s USD Reserve currently stands at $3.75 billion, which is enough to cover our existing preferred dividend payments and interest obligations for more than 2.1 years. We’ve also built a track record of 18 months of consecutive dividend payments, having never missed a dividend despite the recent deep drawdown in Bitcoin price.” 

In Q2 alone, operating loss was approximately $8.33 billion, while net loss was roughly $8.22 billion. The company noted that almost all of the losses came from an unrealized decline in the value of its Bitcoin holdings. Meanwhile, Bitcoin is trading at about $63,889 following a 0.5% decline in the past 24 hours. The cryptocurrency has a market cap of about $1.282 trillion and a trading volume of $28.655 billion.

Strategy Reports Q2 Results: Holds 843,775 BTC, Records $8.22 Billion Loss Due to Fair Value Changes

Strategy (Nasdaq: MSTR), formerly MicroStrategy, reported a net loss of $8.22 billion for the second quarter of 2026, compared with net income of $10.02 billion a year earlier,… pic.twitter.com/qOZYGY9DzN

— Wu Blockchain (@WuBlockchain) July 30, 2026