Strategy faces $8.3 billion Bitcoin Q2 loss as Saylor sells over $200M in BTC

Here is the latest from the digital-asset markets: Strategy’s largest Bitcoin sale in years has put new pressure on the corporate treasury model that made Michael Saylor one of the most closely watched figures in digital assets. On July 6, the company, formerly known as MicroStrategy, revealed that it sold 3,588 Bitcoin for about $216 million between June 29 and July 5. Per the filing, Strategy sold the coins in two batches.

It first sold 1,363 Bitcoin between June 29 and June 30 at an average price of $59,256, followed by another 2,225 Bitcoin between July 1 and July 5 at an average price of $60,773. Strategy Bitcoin Buying And Selling (Source: Galaxy Research) With the previous 32 BTC sale, the firm sold a total of 3,620 BTC in the second quarter. However, the firm remains a net buyer of the top crypto, acquiring over 85,000 BTC during the reporting period.

Market Dynamics

While these BTC sales are small compared with Strategy’s remaining 843,775 Bitcoin, it marked a notable shift for a company long associated with relentless accumulation and a public refusal to treat Bitcoin as a source of cash. Notably, the company’s remaining Bitcoin was acquired for about $63. 69 billion, or an average price of $75,476 per coin.

That means the latest sale took place well below Strategy’s average purchase price. Blockchain analytics platform Lookonchain estimated the recent BTC sales locked in a loss of more than $55 million, based on the difference between the company’s reported sale price and its historical acquisition cost. Meanwhile, Strategy disclosed an $8.

32 billion second-quarter loss on its digital assets holdings after Bitcoin’s decline during the reporting period pushed the value of its holdings below their cost basis. It added: “As of June 30, 2026, the cost basis of the bitcoin held by Strategy exceeded the fair value of its bitcoin holdings. As a result, Strategy will record a valuation allowance against its deferred tax benefit and deferred tax asset associated with the unrealized loss on its bitcoin during the quarter ended June 30, 2026, offsetting these amounts in full.

Market Impact

” Strategy turns Bitcoin into a funding source for its preferred offering dividends Strategy’s Bitcoin sale marked a shift in how the company uses its reserves. In the filing, the company stated that the proceeds from the sale of 3,588 Bitcoin would fund preferred stock distributions. Saylor stated: These were the Q2 quarterly dividends on STRF, STRE, STRK, and STRD, and the full monthly dividend for June on STRC.

Michael Saylor Executive Chairman Strategy Share on View Profile The firm also added that the sales would replenish the portion of its US dollar reserve used for those payments. The reserve, which stood at $2. 55 billion as of July 5, is meant to cover preferred dividends and interest on outstanding debt.

Meanwhile, the filing also showed what Strategy chose not to do during the period. The Saylor-led company did not sell common shares through its at-the-market equity program during the week ended July 5, nor did it repurchase common or preferred shares. 25 billion Bitcoin Monetization Program also remains available.

This shift continues to shape the digital-asset landscape, with analysts examining its near-term effects.