Strategy authorizes up to $5B in Bitcoin sales after $8B Q2 loss

Strategy Inc. (formerly MicroStrategy) reported a Q2 2026 net loss of $8.22 billion and, in the same breath, authorized a program to sell up to $5 billion worth of its Bitcoin stash. (Crypto Briefing) CEO Phong Le outlined the new sales strategy as a way to maintain reserves and fund dividends, marking a shift away from the company's long-held "never sell" approach. (Crypto Times) Le said during the earnings call the sale would be "appropriate for the company," and while the actual figure could be much smaller, founder Michael Saylor cautioned it could be larger. (Forbes) The $5 billion is a program ceiling, not a commitment — actual sales could be significantly smaller or larger. (Crypto Times) Shares of Strategy fell about 7.3% following the news, extending a roughly 42% loss so far this year, while Bitcoin hit a three-week low. (Forbes) This builds on an earlier, smaller $1.25 billion Bitcoin-sale authorization from June, and the company still holds between 843,775 and 846,000 BTC — roughly 4% of all Bitcoin that will ever exist.