{"id":23376,"date":"2026-08-06T16:30:23","date_gmt":"2026-08-06T16:30:23","guid":{"rendered":"https:\/\/www.coinspeaker.com\/fr\/?p=23376"},"modified":"2026-08-05T10:04:19","modified_gmt":"2026-08-05T10:04:19","slug":"bitcoin-strategy-vend-105-millions-de-btc-pour-ses-actions","status":"publish","type":"post","link":"https:\/\/www.coinspeaker.com\/fr\/bitcoin-strategy-vend-105-millions-de-btc-pour-ses-actions\/","title":{"rendered":"Bitcoin : Strategy vend 105 millions $ de BTC pour ses actions"},"content":{"rendered":"<p>Dans les derni\u00e8res actualit\u00e9s Bitcoin, Strategy (Nasdaq : MSTR), la soci\u00e9t\u00e9 de tr\u00e9sorerie bitcoin de Michael Saylor, a r\u00e9v\u00e9l\u00e9 la vente de 1 638 BTC pour environ 105 millions de dollars dans un <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1050446\/000119312526329565\/mstr-20260803.htm\" target=\"_blank\" rel=\"noopener\">formulaire 8-K d\u00e9pos\u00e9 aupr\u00e8s de la SEC<\/a>.<\/p>\r\n<p>Le produit de cette vente est destin\u00e9 au financement du paiement des dividendes sur les diff\u00e9rentes classes d&rsquo;actions privil\u00e9gi\u00e9es de Strategy \u2014 notamment STRC, STRK, STRD, STRF et STRE \u2014 ainsi qu&rsquo;au rachat d&rsquo;actions privil\u00e9gi\u00e9es STRC.<\/p>\r\n<p>Il ne s&rsquo;agit pas d&rsquo;une simple vente de Bitcoin, mais d&rsquo;un exercice de gestion de la structure du capital. Strategy actionne parall\u00e8lement deux leviers \u2014 la mon\u00e9tisation du BTC et l&rsquo;allocation de r\u00e9serves \u2014 pour assurer le service d&rsquo;une pile d&rsquo;actions privil\u00e9gi\u00e9es dont les obligations de tr\u00e9sorerie sont en constante augmentation.<\/p>\r\n<h2>Actualit\u00e9s Bitcoin : M\u00e9canique de vente, prix et pause de six semaines dans l&rsquo;accumulation<\/h2>\r\n<p>Strategy a liquid\u00e9 ses 1 638 BTC \u00e0 un prix moyen d&rsquo;environ 64 000 $ par unit\u00e9. Ce prix est nettement inf\u00e9rieur au co\u00fbt d&rsquo;acquisition moyen global de l&rsquo;entreprise, qui s&rsquo;\u00e9l\u00e8ve \u00e0 75 419 $. Bien qu&rsquo;elle se d\u00e9leste d&rsquo;une partie de ses r\u00e9serves et affiche actuellement une perte latente de 10,9 milliards de dollars, Strategy demeure l&rsquo;un des plus grands d\u00e9tenteurs institutionnels de Bitcoin au monde, cette vente de 105 millions de dollars ne repr\u00e9sentant qu&rsquo;une infime fraction de son portefeuille total.<\/p>\r\n<p><blockquote class=\"twitter-tweet\" data-width=\"474\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Strategy increased its USD Reserve by $250M and repurchased $81M of <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/x.com\/search?q=%24STRC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$STRC<\/a>. This increased USD Duration by 57 days to 2.3 years and tightened STRC\u2019s BTC Credit by 5 bps. As of 8\/2\/26, we hold \u20bf842,138 in our BTC Reserve and $4.0B in our USD Reserve. <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/x.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MSTR<\/a> <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/t.co\/t7bGZJ8Q3o\">https:\/\/t.co\/t7bGZJ8Q3o<\/a><\/p>&mdash; Michael Saylor (@saylor) <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/x.com\/saylor\/status\/2084248751925776403?ref_src=twsrc%5Etfw\">August 3, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\r\n<p>Cette transaction marque la sixi\u00e8me semaine cons\u00e9cutive sans nouvel achat de Bitcoin, un changement notable par rapport \u00e0 la strat\u00e9gie d&rsquo;accumulation agressive qui a d\u00e9fini l&rsquo;identit\u00e9 publique de la firme pendant des ann\u00e9es.<\/p>\r\n<p>Cette tendance s&rsquo;accentue : Strategy n&rsquo;avait vendu que 32 BTC en mai 2026, avant de c\u00e9der 3 588 BTC d\u00e9but juillet pour environ 216 millions de dollars, pour aboutir \u00e0 cette derni\u00e8re tranche. Les fonds sont syst\u00e9matiquement orient\u00e9s vers le paiement des dividendes privil\u00e9gi\u00e9s et les rachats de STRC.<\/p>\r\n<h2>Actions privil\u00e9gi\u00e9es STRC : Logique de rachat et dividende de 12 %<\/h2>\r\n<p>Les rachats d&rsquo;actions privil\u00e9gi\u00e9es STRC constituent un \u00e9l\u00e9ment cl\u00e9 de la r\u00e9ponse de Strategy en mati\u00e8re de gestion du capital. L&rsquo;action STRC \u2014 l&rsquo;action privil\u00e9gi\u00e9e perp\u00e9tuelle de s\u00e9rie A \u00e0 taux variable de la soci\u00e9t\u00e9 \u2014 affiche un taux de dividende annuel de 12 % pour une valeur nominale de 100 $, mais elle s&rsquo;\u00e9change actuellement en dessous de ce pair.<\/p>\r\n<p>Le titre a cl\u00f4tur\u00e9 \u00e0 89,46 $ le 31 juillet, soit une d\u00e9cote d&rsquo;environ 10 \u00e0 11 % par rapport \u00e0 sa valeur nominale de 100 $, malgr\u00e9 le taux de dividende le plus \u00e9lev\u00e9 de son histoire.<\/p>\r\n<p>Lanc\u00e9e en juillet 2025 avec un taux de 9 %, l&rsquo;action STRC a connu sept augmentations mensuelles cons\u00e9cutives pour atteindre 12 % pour les dates d&rsquo;enregistrement d\u00e9butant le 1er juillet 2026. Ces hausses suivent un m\u00e9canisme de cliquet : le dividende augmente de 0,5 % d\u00e8s que le STRC s&rsquo;\u00e9change sous les 95 $. Une fois d\u00e9clench\u00e9e, cette augmentation est irr\u00e9versible, m\u00eame si le cours remonte.<\/p>\r\n\r\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2026\/08\/content-img-1-3.jpg\" alt=\"\" \/><\/figure>\r\n\r\n<p>Strategy r\u00e9ajuste ce taux mensuellement pour tenter de ramener le prix du STRC vers sa valeur nominale de 100 $, un m\u00e9canisme essentiel dont d\u00e9pend la soci\u00e9t\u00e9 pour \u00e9mettre de nouvelles actions STRC et lever des capitaux frais.<\/p>\r\n<p>La persistance de cette d\u00e9cote a contraint Strategy \u00e0 suspendre l&rsquo;\u00e9mission de nouveaux titres STRC via son programme \u00ab\u00a0at-the-market\u00a0\u00bb, limitant ainsi la capacit\u00e9 de l&rsquo;entreprise \u00e0 accro\u00eetre ses avoirs en bitcoin par ce canal de financement sp\u00e9cifique.<\/p>\r\n<p>La pression s&rsquo;est accentu\u00e9e avec la concurrence de Strive, dont le titre privil\u00e9gi\u00e9 SATA propose un rendement d&rsquo;environ 13 % avec des paiements de dividendes quotidiens et aucune dette sous-jacente, d\u00e9tournant ainsi la demande des investisseurs au d\u00e9triment du STRC.<\/p><a class=\"infinscroll_next_page_link\" style=\"display:none\" href=\"https:\/\/www.coinspeaker.com\/fr\/investisseurs-misent-sur-le-layer-2-bitcoin-hyper\/\" rel=\"prev\">next<\/a>","protected":false},"excerpt":{"rendered":"<p>Strategy vend 1 638 BTC pour 105 millions $ afin de financer les dividendes de ses actions privil\u00e9gi\u00e9es. Une gestion de capital strat\u00e9gique sign\u00e9e Saylor.<\/p>\n","protected":false},"author":200,"featured_media":23373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actu"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin : Strategy vend 105 millions $ de BTC pour ses actions<\/title>\n<meta name=\"description\" content=\"Strategy vend 1638 BTC pour 105M$ pour financer les dividendes de ses actions privil\u00e9gi\u00e9es. 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Je souhaite y apporter mon approche analytique et rationnelle, tout en conservant ma curiosit\u00e9. En dehors de l\u2019\u00e9cran, je lis beaucoup (\u00e9conomie, essais, un peu de science-fiction) et je prends plaisir \u00e0 bricoler. 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