Quick Summary
Strategy — the company whose chairman built a global cult around the phrase "never sell your bitcoin" — just sold another 1,690 BTC between Aug. 3 and Aug. 9, pocketing $108.6 million to buy back 1.15 million shares of its own preferred stock.
That’s the fourth Bitcoin sale of 2026, bringing the year’s total to 6,948 coins. And here’s the part the HODL army doesn’t want to hear: Strategy sold this batch at an average of $64,262 per coin, while its entire stack carries an average cost of $75,385. That’s an $11,000 loss on every single coin dumped. The "never sell" preacher is selling Bitcoin at a loss to keep a dividend machine running.
What Happened
According to a Monday 8-K filing with the SEC, Strategy sold 1,690 Bitcoin for $108.6 million between August 3 and August 9, using the proceeds to repurchase 1.15 million shares of its STRC preferred stock — a variable-rate security designed to pay monthly dividends.
The company still holds 840,447 BTC, purchased for an aggregate $63.36 billion. But it’s been quietly bleeding coins all year: 6,948 BTC sold across four disclosed transactions in 2026 alone, each one funding either STRC buybacks or the company’s growing US dollar reserve, which now sits at $4.65 billion.
The numbers get uglier the closer you look. Strategy sold the latest batch at an average net price of $64,262 per Bitcoin — while its total holdings carry an average purchase price of $75,385 per coin. It’s selling below cost, and Wall Street is applauding. STRC shares have rallied 24% off their June lows, retook $90 on Aug. 3, and were at $95.45 in premarket trading Monday. The company still has $785.2 million left under its digital credit securities repurchase program — plus another $1 billion for its Class A common stock.
This isn’t new, and it isn’t an accident. Saylor authorized $1.25 billion of sales back in June. He sold 1,638 BTC just last week. Strategy even signaled a sell pivot back in May. The pattern is now unmistakable: the world’s biggest corporate Bitcoin holder treats its stack as a cash machine — and the "never sell" gospel is for retail, not for the company itself.
The Hypocrisy Nobody Wants to Talk About
Michael Saylor has spent a decade telling everyone with a wallet to never, ever sell their Bitcoin. Last month he was lecturing BIP-110’s backers about how "Bitcoin does not need guardians of purity" — while his own company quietly prepared its fourth sell-off of the year.
Let’s be brutally honest about what this is: 840,447 coins still in the vault is a lot. But the precedent matters more than the number. The largest corporate treasury on Earth has now demonstrated, four times in eight months, that its Bitcoin is a liquidity pool — not a conviction. Every "never sell" sermon from here on out carries a footnote: unless we need to pay dividends.
And remember what happened the last time the market blinked: Strategy booked a $12.5 billion paper loss in Q1 2026 when price dipped below its average cost. Selling at $64,262 against a $75,385 cost basis isn’t a pivot — it’s the endgame of a leverage machine that needs cash flow more than it needs orange coins.
FAQ
Is Strategy selling all its Bitcoin?
No. It still holds 840,447 BTC — roughly 4% of all Bitcoin in circulation. The 6,948 coins sold this year are under 1% of its stack.
Why is Strategy selling at a loss?
STRC is a variable-rate preferred stock that pays monthly dividends. To keep that machine running — and keep buying back shares at favorable prices — the company converts Bitcoin into dollars. It’s a business obligation, not a market call.
Is this bearish for Bitcoin?
Not in the aggregate. 1,690 BTC is a rounding error against daily volume. What it IS, is a brutal reality check on "never sell" as universal advice. Corporations have expenses. You don’t.
Should I sell my Bitcoin?
Not financial advice. But ask yourself one question first: do you have a preferred-stock dividend to fund? No? Then why are you mimicking the selling habits of a company that does?
Final Thoughts
The most instructive part of this story isn’t the sale. It’s the reaction. STRC shareholders are thrilled. Wall Street is thrilled. The HODL army is silent — because the man who built the "never sell" movement just sold 6,948 coins in a year at a loss, and admitting that means admitting the sermon was never meant for them.
If the biggest corporate believer on Earth sells at $64K when his average is $75K to keep a dividend machine alive — what exactly is "never sell" advice worth? And if the person telling you to hold forever has sold four times in eight months, why are you still holding the line for him?
Source: Cointelegraph
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So — if the world’s biggest "never sell" preacher is dumping coins at a loss to prop up his own stock, why are you still treating his words as gospel?
