Strategy liquidates 1,638 Bitcoin to bolster preferred stock support

The sale, executed between July 27 and Sunday at an average price of $63,957 per coin, directed $52.4 million toward dividend payments and $52.3 million into repurchasing STRC shares. Executive Chairman Michael Saylor confirmed the transactions on X, noting that the firm also raised an additional $290.6 million through MSTR common share sales. These combined efforts have extended the company’s U.S. dollar funding runway to approximately 2.3 years.

This strategy marks a departure from the firm's previous model of aggressive, near-constant Bitcoin accumulation. Management signaled during its July 31 earnings call that future acquisitions are currently secondary to restoring STRC’s market value. With the security trading at $89.40—well below its $100 par value—the company is prioritizing discounted buybacks and liquidity preservation over expanding its 842,138 BTC holdings. Analysts at Benchmark and H.C. Wainwright maintain buy ratings, viewing this focus on capital flexibility as a necessary step to support the long-term viability of their financing model.