The Strategy Bitcoin Monetization Program is no longer a theoretical framework: the company’s Aug. 10, 2026 SEC Form 8-K confirms it sold 1,690 BTC during August 3–9 at an average of $64,262 per coin, generating $108.6 million in aggregate proceeds deployed entirely into STRC preferred-share buybacks.
The filing resolves the speculation that followed Michael Saylor’s two-word Sunday post on X: “Doing ₿usiness.” The 1,030 BTC transfer that Lookonchain flagged on 5 August was part of that disposal, not a custodial shuffle with no change in ownership.
Strategy’s confirmed BTC balance now stands at 840,447 BTC, acquired for $63.36 billion at an average cost of $75,385 per coin, per the filing. That replaces the 842,138 BTC figure that Strategy’s public ledger had shown through the Aug. 3 filing.
How the Bitcoin Monetization Program Works
The programme’s architecture was set out in the June 29 8-K and the accompanying Strategy press release. BTC sales are authorised for three purposes: building the USD Reserve (up to $1.25 billion), funding preferred dividends and debt interest, and funding repurchases of Digital Credit Securities or class A common stock. Any monetisation outside those buckets requires a fresh board vote.
CFO Andrew Kang framed the logic at launch: ‘Bitcoin is capital. This program gives Strategy the flexibility to use a portion of its BTC Reserve to strengthen Digital Credit, fund or replenish the USD Reserve, fund dividend payments and interest expense, and fund accretive repurchases when BTC monetization is more advantageous than issuing common equity.’
The Digital Credit Securities Repurchase Program carries a $1.0 billion aggregate authorisation, per the June 29 filing. The Aug. 10 8-K shows Strategy bought back 1,152,020 STRC shares for approximately $109 million during the August 3–9 window, using the BTC sale proceeds directly.
That follows the programme’s initial STRC repurchases: 288,930 shares for approximately $25.0 million at an average of $86.52 per share during July 20–26, as detailed in the July 27 Strategy press release. STRC remains below the $100 stated-amount target management has cited, last trading near $94.60.
ATM Programme Doing the Heavier Lifting on the Reserve
BTC disposals are not the only lever. During the same August 3–9 period, Strategy sold 6,585,682 MSTR shares through its at-the-market programme, generating $650.0 million in net proceeds directed to the USD Reserve, plus $3.1 million added to cash, per the Aug. 10 8-K.
The combined effect pushed the USD Reserve to $4.65 billion as of 9 August, a figure the filing notes includes expected cash proceeds from unsettled ATM sales. The snippet had cited a $4 billion reserve figure, which reflected the position as of the prior reporting period.
That reserve size matters for reading future Saylor posts. Strategy entered the current period with substantial non-BTC firepower: a $4.65 billion cash reserve, live ATM capacity on MSTR equity, and a $1.0 billion MSTR common-share buyback authorisation that remained unused as of the August 3 filing, per CryptoSlate. A cryptic post from Saylor therefore carries less information than it once did: the company now has multiple capital levers and clearly uses them in parallel.
The shift is structural. Strategy’s STRC IPO filing established that STRC holders can demand repurchase at stated amount plus accrued dividends if a fundamental change occurs, giving management a contractual incentive to keep the preferred trading close to $100. With STRC still at a roughly 5.5% discount to par, the BTC Monetization Program gives the board a direct mechanism to close that gap without touching the equity ATM.
Four BTC disposals are now on record for 2026: 32 BTC (1 June), 1,363 BTC (30 June), 2,225 BTC (6 July), 1,638 BTC (27 July–2 August), and the freshly confirmed 1,690 BTC (3–9 August). The running 2026 total sits at 6,948 BTC monetised under the programme.
With STRC still below $100, the pace of repurchases will depend on where the preferred trades. The next SEC filing or Strategy ledger update will show whether the Bitcoin Monetization Program ran again during the week of 10 August.
