After $8.2B loss forced Bitcoin sales, Michael Saylor gives Strategy to September to repair broken dividend engine
Strategy is trying to restore STRC preferred stock to par by September to restart a key financing channel for Bitcoin accumulation. Q2 showed how exposed the business is to Bitcoin volatility: it reported an $8.22 billion loss, driven by an $8.32 billion digital-asset write-down, while still increasing holdings to 846,000 BTC and lifting Bitcoin per diluted share. STRC became a major funding source, raising $7.53 billion in the first seven months, but its decline forced Strategy to balance Bitcoin buying with liquidity support for dividends. The company rebuilt its dollar reserve from $871 million to $3.75 billion and approved $1 billion of buybacks, with $975 million still available. STRC now trades below its $100 stated value, so restoring it to par is important for future issuance. The broader goal remains doubling Bitcoin per MSTR share in seven years through “digital credit.”
