Strategy faces $8.3 billion Bitcoin Q2 loss as Saylor sells over $200M in BTC
Michael Saylor’s company sold Bitcoin to help fund preferred-stock payouts, testing a model built on years of accumulation.

Follow Strategy news, including Bitcoin treasury moves, corporate buying activity, earnings, and updates tied to its BTC-focused strategy.
MSTR rose after the company unveiled a plan to defend its capital structure with cash reserves, higher dividends and possible Bitcoin sales.
Its 7,696 BTC reserve now has to remain legible through a drawdown, wallet scrutiny, and program conditions.
Strategy's STRC slump has raised concerns about the financing model that helped turn the company into the world’s largest corporate Bitcoin holder.
Strategy still holds more than $50 billion of Bitcoin, but weaker securities and rising funding costs are leaving it with fewer attractive ways to keep buying.
The company is rebuilding a reserve depleted by a $1.5 billion debt repayment as rising preferred dividends shift more of the burden onto MSTR shareholders.
The company diluted MSTR shareholders to reinforce preferred-stock payments after STRC’s record decline exposed pressure within its capital structure.