Strategy has realized more than $102 million in losses from its 2026 bitcoin sales, as Michael Saylor’s company keeps selling coins below its average purchase price to fund dividend and buyback obligations.
Key Takeaways
Cryptoquant analysts estimate Strategy’s cumulative realized losses from 2026 bitcoin sales have topped $102 million.The company still holds roughly 840,000 BTC, with unrealized losses near $10.6 billion.Strategy’s preferred-stock dividend obligations have nearly quadrupled to $1.2 billion annually.Each sale landed below what Strategy originally paid, and Cryptoquant’s tally puts the cumulative realized losses from this year’s monetization program at more than $102 million. The board has authorized up to $1.25 billion in total sales under the program, meaning the company has room to keep selling if it chooses to.
That said, the company has also continued buying in parallel, adding smaller amounts which analysts have read as an attempt to keep the accumulation narrative alive while quietly managing liquidity.
Why Strategy Is Selling at AllThat accounting swing does not force Strategy’s hand the way a realized cash shortfall would, but it has drawn fresh scrutiny to a strategy built almost entirely around one asset’s price staying above cost.
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