Bank of America cut its stake in Strategy Inc by roughly 70% during Q2 2026, according to a new 13F filing, trimming a $495 million position down to about $110 million. The move reverses an increase from the prior quarter and comes as Bitcoin investor Jeff Booth argues Strategy's future depends on Bitcoin becoming a working currency rather than just a balance-sheet asset.
Bank of America reduced its position in Strategy Inc by roughly 70% during Q2 2026, according to the bank's latest 13F filing, cutting its stake from about 4 million shares worth $495 million to approximately 1.2 million shares valued around $110 million.
BofA's filing shows an abrupt reversal
The retreat stands out because BofA had increased its Strategy holdings by about 3.1% just one quarter earlier, bringing its position to roughly 3.97 million shares worth $494.9 million in Q1 2026. Neither Bank of America nor Strategy executives have commented publicly on the reduction.
13F filings only capture long equity positions as of the last day of a quarter, excluding short positions, derivatives, and hedges, so BofA's actual exposure to Strategy could differ from the headline share count. The bank still holds roughly $110 million of Strategy stock, suggesting it has right-sized rather than abandoned the position.
Booth ties Strategy's future to Bitcoin turning into money
Strategy, formerly MicroStrategy, has raised equity and debt under Executive Chairman Michael Saylor to fund large Bitcoin purchases, becoming a leveraged proxy for the cryptocurrency. That concentration is part of the backdrop for comments from Bitcoin investor and Ego Death Capital co-founder Jeff Booth, who said Strategy's long-term survival depends on Bitcoin functioning as an actual currency, not just an asset held on a balance sheet.
Speaking with Scott Melker on The Wolf of All Streets, Booth said: "Bitcoin needs to be a currency." He argued that if Bitcoin remains solely a financial instrument, Strategy could eventually face government intervention, whereas Bitcoin's emergence as a currency would make Strategy one of the more valuable companies around because it accumulated the asset early, he said.
Booth also said companies should generate cash through ordinary operations before allocating part of it to Bitcoin. He cautioned that Bitcoin yield products offering high interest in exchange for giving up self-custody risk recreating the financial structure Bitcoin was built to challenge.
Sources: Crypto Briefing, CryptoPotato
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