# Strategy sold 1,395 bitcoin in Q2 — and used the cash for preferred dividends

![Strategy sold 1,395 bitcoin in Q2 — and used the cash for preferred dividends](https://aiswingx.com/static/covers/mstr-2026q2_cover.jpg?v=1790004489)

**Q2 10-Q: the one-line footnote on what the sale proceeds were used for, the gap between preferred dividends and software profit, and where the 846,000 bitcoin sit against their cost**

Strategy Inc (MSTR), the company known for accumulating bitcoin, sold 1,395 bitcoin in the second quarter of 2026. The 10-Q filed August 3 states in one line what the proceeds were used for. Cash dividends on preferred stock in the same quarter were $400.2m.

- 종목: MSTR (Strategy Inc)
- 분기: 2026Q2 · 10-Q
- 작성: 2026-09-22 00:00 UTC
- 원문: https://aiswingx.com/p/mstr-2026q2

## 숫자 하나
Q2 2026 cash dividends on preferred stock: $400.2m (Q2 2025: $49.0m). Software segment net income for the quarter: $3.7m. First-half operating cash flow: $9.9m.

## 비유 하나
(구독자 전용)

## 출처 하나
Strategy Inc Form 10-Q for Q2 2026 (filed 2026-08-03): Note 3 'Digital Assets', Note 10 'Redeemable Preferred Stock', Note 13 'Segment Information', Note 15 'Subsequent Events', MD&A 'Liquidity and Capital Resources', consolidated statement of cash flows

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

Strategy Inc (MSTR) started as an enterprise analytics software vendor and, since 2020, has spent its capital buying bitcoin. It was called MicroStrategy until last year. Among retail investors it trades as a proxy for bitcoin itself.

Note 3 of the 10-Q it filed on August 3 shows that in the second quarter the company sold **1,395 bitcoin** for **$83.2m**. The comparative column for the same period of 2025 shows no sales. Footnote (e) to the holdings table in the MD&A gives the reason in one line: **"The proceeds from the sales were used to fund dividend payments on Preferred Stock."**

Cash dividends paid on preferred stock in the quarter were **$400.2m**, up from $49.0m in the same quarter a year earlier, because the amount of preferred stock outstanding has grown sharply. At June 30 the five series carried a combined liquidation preference of **$15.46bn**, with dividend rates from 8% (STRK) to 11.5% (STRC, for June). The company puts its expected preferred dividends and bond interest for the next 12 months at **about $1.76bn**.

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(End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing)

## 수정 이력
- 2026-09-21 14:22 UTC — Removed 'for the first time' / 'never selling' from title and lead — this 10-Q only shows no sales in the 2025 comparative period; earlier years are outside its scope. No figures changed.
- 2026-09-21 15:39 UTC — Reworked the free preview — lead and subhead now stop at the event and the key figure; interpretive paragraphs, the analogy and watch-next lines and interpretive FAQ answers moved to the subscriber section. No figures or sources changed.

## 관련 뉴스
- [MSTR Stock Extends Run As Street Boosts Bitcoin-Levered Target](https://news.google.com/rss/articles/CBMidkFVX3lxTFBNaDNNLXQyRVBCRTZ0MThkaEJpYklmRlBzTUtrbXJCM254dEt6VWQ0MlJvaTlNQ0M0ZnBsRGVlYW5vZUVUUEtfQThGalZBM3gyRlZURGViblJyUTVwaS1ObVo5OVd2SW4wYnZqMTJFSlh0bm9mamc?oc=5) — StocksToTrade
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- [Why is Strategy stock rallying today?](https://news.google.com/rss/articles/CBMinwFBVV95cUxPOFZjbXRyMVBKeW5tRkliUXRaYmJMd3I2RGNHWE1pX3FlNENaVVhKZVdTaGJ6T1N0bXI2TkhJaGU1SmJaUF9lQ2syeFBqcnBVZ2wxMjB4RnRYeGVyUzZGY3AzMGpDaEVQUzRhVTllejF1UmM4Zzd5bmxzMy1NOGIzWFdlSmNyZC13Q0lpVFZTYjVDblUwU3JQRmFxdFNaOW8?oc=5) — Investing.com

## FAQ

**Q. Where does the filing say bitcoin was sold?**

Note 3 'Digital Assets' shows 1,395 bitcoin sold in Q2 for $83.2m. Footnote (e) to the holdings roll-forward in the MD&A states: 'The proceeds from the sales were used to fund dividend payments on Preferred Stock.' Note 15 adds a further 2,225 bitcoin sold from July 1 to 24 for $135.2m at an average of $60,773.

**Q. Has Strategy stopped buying bitcoin?**

No. It bought 85,296 bitcoin for $6.42bn in Q2. The 1,395 sold equal 1.6% of what it bought. But in June the board authorized a 'BTC Monetization Program' that allows bitcoin sales to fund dividends, interest, the USD Reserve and buybacks.

**Q. How does the company afford the dividends?**

The 10-Q cash flow statement and the liquidity section of the MD&A show the sources. How far the dividend exceeds operating profit and what fills the gap is set out with figures in the subscriber section of this article.

**Q. Where can I check these numbers?**

Open Strategy Inc's Q2 2026 Form 10-Q on SEC EDGAR (accession 0001050446-26-000044) and read Note 3, Note 10, Note 13, Note 15 and the MD&A section 'Liquidity and Capital Resources'.