Strategy faces $8.3 billion Bitcoin Q2 loss as Saylor sells over $200M in BTC
Strategy sold 3,588 Bitcoin for about $216 million, its largest sale in years, to fund preferred-stock dividends and refill its dollar reserve. The sales were done below Strategy’s average Bitcoin cost basis, implying a large realized loss and adding to an $8.32 billion Q2 digital-asset loss tied to Bitcoin’s decline. The company still holds 843,775 BTC, and remains a net buyer overall in the quarter, but the move marks a shift from a pure accumulation strategy to using Bitcoin as a balance-sheet funding source. Strategy said it did not issue new common shares or repurchase stock during the period. The sale raises questions about whether future liquidity needs, preferred payouts, or debt service could force more Bitcoin sales. It also highlights Saylor’s broader thesis: Bitcoin is becoming part of a corporate capital-markets structure, not just a buy-and-hold treasury asset.
