Strategy’s SEC 8-K filing dated 10 August 2026 confirms the STRC buyback programme consumed every dollar of the company’s latest Bitcoin sale, with 1,690 BTC liquidated between 3 and 9 August for $108.6 million at an average of $64,262 per coin.
All 1,152,020 shares repurchased were STRC, Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock. No shares of STRF, STRK, STRD, or MSTR common stock were repurchased under any programme during the same period, per the filing.
The sale is the second consecutive week Strategy has reduced its Bitcoin position. The prior week’s 8-K (3 August 2026) showed 1,638 BTC sold for $104.7 million, split between $52.4 million in STRC dividends and $52.3 million in STRC repurchases. That week’s filing also showed $250.0 million of MSTR ATM proceeds directed to the USD reserve and a further $28.9 million of ATM proceeds used for additional STRC repurchases.
What the STRC Buyback Programme Still Has to Spend
The Digital Credit Securities Repurchase Programme, announced on 29 June 2026, authorises up to $1.0 billion in aggregate purchase price covering STRC, STRF, STRD, and STRK. STRC was designated the initial priority under the programme at launch.
Following the week of 3–9 August activity, approximately $785.2 million in aggregate purchase price remains available under that programme. A separate $1.0 billion MSTR common stock repurchase programme also remains open, with roughly $1.0 billion of capacity intact.
Strategy’s incentive to buy below par is mechanical: repurchasing STRC at $94 retires $100 of stated value for less than $100, while simultaneously cutting the share count entitled to future dividend distributions at the 12% annual rate set in June 2026.
STRC priced its initial public offering on 29 July 2025 at $90 per share across 28,011,111 shares, generating roughly $2.521 billion in gross proceeds. The stock fell to around $72 in late June 2026 before recovering. As of 10 August, STRC traded at $94.30, facing resistance at the 50-day moving average of $94.64 and the 100-day average of $96.75. Management has said it wants STRC to trade consistently near its $100 stated value before considering a rate reduction.
MSTR ATM Sales Drive the Dollar Reserve Higher
Separately, Strategy sold 6,585,682 MSTR common shares through its at-the-market programmes during the same period, generating $653.1 million in net proceeds. (The snippet cited 6,585,329 shares; the SEC filing figure of 6,585,682 is controlling.) Of that total, $650 million went to the USD reserve and $3.1 million to unrestricted cash.
The dollar reserve consequently moved from approximately $4 billion to $4.65 billion, intended primarily to cover preferred-stock dividends and interest obligations, though the board retains discretion over deployment.
Strategy’s existing MSTR ATM programmes had $22,036.8 million of capacity remaining as of the filing period. The company has indicated it could begin selling shares under a new $21 billion MSTR offering after exhausting the current programme’s remaining room.
Strategy established a $4.2 billion STRC ATM offering programme on 31 July 2025, alongside a $2.1 billion STRF ATM, as detailed in an earlier SEC filing. That layered capital structure is what funds the ongoing preferred-stock support operations.
One tax detail worth flagging from the 3 August filing: Strategy expects that STRC dividends payable on 31 August 2026 and 15 September 2026 will be characterised as non-taxable returns of capital to the extent of a shareholder’s tax basis in their STRC shares for US federal income tax purposes.
Bitcoin Position Sits Below Average Cost
After the 1,690 BTC sale, Strategy holds 840,447 BTC acquired for a combined $63.36 billion including fees, at an average cost of $75,385 per coin. With Bitcoin struggling to establish a sustained breakout above $65,000, the entire position sits below the company’s average acquisition price.
According to Yellow.com’s report on Strategy’s subsequent filing, the week through 16 August 2026 saw no further Bitcoin purchases or disposals, leaving the 840,447 BTC position unchanged. That week’s MSTR ATM activity added 3,458,866 shares sold for $333.7 million net, pushing the USD reserve to $4.8 billion.
Strategy remains the largest publicly disclosed corporate Bitcoin holder. Whether the next weekly filing shows continued STRC-driven liquidation or a return to accumulation will depend largely on where STRC trades relative to $100 in the days ahead.
