Strategy Inc., the largest corporate holder of Bitcoin, has announced big changes to how it manages its finances. The company may sell up to $1.25 billion in Bitcoin, has approved two $1 billion share buyback programs, raised the dividend on its STRC preferred stock to 12%, and set aside a $2.55 billion cash reserve for dividends and debt payments. After the news, Strategy’s shares rose over 6% in pre-market trading and later jumped about 13%, while Bitcoin hovered near $60,000.
The new Digital Credit Capital Framework is a change from Strategy’s usual method of always raising new money to buy more Bitcoin. Now, the company will manage its finances more actively, choosing when to issue securities, buy back shares, or sell some of its Bitcoin if it makes financial sense.
A key part of the new plan is a reserve policy approved by the board. Strategy will keep enough cash on hand to cover at least 12 months of preferred dividends and interest payments. Right now, the company has $2.55 billion, which covers almost 17.4 months of these costs. With the option to sell up to $1.25 billion in Bitcoin, Strategy can access about $3.8 billion, enough for nearly 26 months of payments.
The board has also approved up to $1 billion in buybacks for its Digital Credit Securities, which include STRC, STRF, STRK, and STRD preferred shares. There is another $1 billion buyback program for Class A common stock. Both programs are flexible and can change or pause based on market conditions.
To boost investor confidence, Strategy increased the annual dividend on its STRC preferred stock from 11.5% to 12%. The company wants to keep STRC trading near its $100 value and will review the dividend each month, considering market conditions, Bitcoin prices, and credit spreads.
These changes follow a tough year for Strategy, as both Bitcoin and its shares dropped sharply. The company’s mNAV ratio, which used to support its high valuation, recently fell below one. This has led to doubts about whether issuing new shares is still a good way to fund Bitcoin purchases.
Earlier this month, Strategy sold 32 Bitcoin, its first sale since 2022. This shows the company is willing to use its Bitcoin holdings to meet financial needs when required. Still, Executive Chairman Michael Saylor said Bitcoin is still the company’s main treasury asset. CEO Phong Le called the new plan a shift to more active capital management, and CFO Andrew Kang said it gives Strategy more flexibility to improve its finances without changing its long-term focus on Bitcoin.
Strategy announces a Digital Credit Capital Framework designed to strengthen Digital Credit, enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation. $MSTR $STRC https://t.co/AUoUCtem53
— Michael Saylor (@saylor) June 29, 2026
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