Strategy holds 842,138 BTC units and has a floating loss of nearly US$9 billion after its latest sal

Strategy, the U.S. business intelligence company led by Michael Saylor, has once again triggered speculation about its Bitcoin holdings.

Strategy CEO Michael Saylor recently released an acquisition chart with the company's signature orange dots with the caption "Doing business", but did not disclose any new Bitcoin purchase details. The chart has been often used to forecast company treasury updates, and this release quickly ignited market speculation about whether the company will increase its holdings in Bitcoin again.

Recent sales, cash reserves and financial activities

Strategy confirmed in its latest regulatory filing that it sold 1,638 bitcoins between July 27 and August 2, with an average selling price of US$63,957 each and net income of US$104.73 million. According to the company's official books, it currently holds a total of 842,138 bitcoins in its reserves, with a cumulative purchase cost of US$63.51 billion, and an average purchase price of US$75,419 per coin.

At the end of the reporting period, the Bitcoin trading price was approximately US$65,146, and the current market value of the company's Bitcoin holdings was approximately US$54.87 billion. Compared with acquisition costs, book unrealized losses were close to $9 billion. This loss is only reflected on the books and no actual accounting loss will be incurred unless the company sells the assets at current prices.

Strategy will use $52.4 million from the sale to pay dividends on preferred shares and another $52.3 million to repurchase STRC preferred shares. In addition, the company will be in 2026 (actually 2025? But kept as original) Four negative book entries have been recorded so far, corresponding to Bitcoin sales on June 1, June 30, July 6 and August 3. A total of 5,258 bitcoins were disposed of in these transactions.

Changes in financial signals and on-chain transactions

Saylor's orange-dot charts in the past often signal new Bitcoin purchases, but a sale announcement appeared after the chart was released last Sunday, and the credibility of this model has declined. Strategy's recent capital management initiatives reflect its broader financial strategy: it now includes regular asset sales and the use of existing cash reserves for buybacks and dividends.

No new Bitcoin purchases have been reported since Strategy increased its holdings of 520 bitcoins in the week of June 22. The company's capital allocation strategy allows it to use Bitcoin, common stock, preferred securities or cash for various corporate goals. Therefore, Saylor's social media posts cannot be used as a basis for transaction confirmation.

Micro Dictionary: STRC is Strategy's preferred equity securities that allow companies to raise capital while providing investors with options for income and capital return. The company regularly buys back STRC at $100 below its face value.

During the most recent reporting period, Strategy increased its cash reserves to $4 billion, funded in part by MSTR stock sales. The company raised US$290.6 million by selling 3.01 million common shares, of which US$28.9 million was subsequently used to further repurchase STRC. In total, the company repurchased 912,143 STRC shares for US$81.2 million.

Latest data:

Bitcoin holdings: 842,138
Average bitcoin cost: US$75,419
Reserve market value: US$54.87 billion
Unrealized loss: approximately US$9 billion
Cash reserves: US$4 billion
STRC repurchased: The 912,143 shares of

STRC traded at approximately US$94.60 over the weekend, below its US$100 offering price. Management plans to continue to conduct repurchases at a discount, and there is still US$893.8 million authorized for future repurchases. If the company continues to prioritize discounted repurchase to support STRC prices, this move could delay future Bitcoin purchases.

Meanwhile, online analytics firm Lookonchain recently discovered a transfer of 1,030 bitcoins (worth approximately US$66 million) linked to an address associated with Strategy. However, such transfers do not necessarily mean a sale, and assets may be transferred between custodians or internal company wallets.

Despite continued market speculation, Strategy has not submitted subsequent documents to update its data since the latest sale of 1,638 bitcoins, so it remains unclear whether the company has made new bitcoin purchases or further sales. Strategy's public dashboard still shows a position of 842,138 bitcoins. Future SEC filings or financial disclosures will clarify whether the company's Bitcoin position has changed and whether its overall reserve strategy has remained unchanged.