CoinEx News: Strategy (formerly MicroStrategy) on July 30 reported an $8.22 billion net loss for the second quarter of 2026. Almost all of it came from an $8.32 billion paper loss on its bitcoin holdings. As of July 26 it still held 843,775 bitcoin (up 25% this year) at an average cost of about $75,476 each. So far in 2026 it has sold roughly $218 million of bitcoin under a new program to help pay preferred-stock dividends and top up its cash reserve.

The company now keeps a $3.75 billion dollar reserve, enough to cover more than two years of preferred dividends and interest. It also cut convertible debt by 18% to $6.7 billion in the quarter. The shift from a pure “never-sell” stance to a formal program that allows limited bitcoin sales for liquidity shows Strategy is treating its holdings as a flexible balance-sheet tool while still expanding the overall stack.