New capital management framework approved, allowing for $2 billion in buybacks and a bitcoin sales program to enhance liquidity.
By James Van Straten|Edited by Stephen Alpher Jun 29, 2026, 12:13 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Strategy has implemented a new Digital Credit Capital Framework, establishing a board-approved USD reserve policy and raising the dividend for STRC preferred shares to 12%.
- The board has authorized up to $1 billion in buybacks of preferred securities and $1 billion for common stock repurchases, though there is no obligation to execute these purchases.
- A Bitcoin monetization program has also been approved, enabling future BTC sales to bolster reserves and fund dividends and interest payments.
Strategy (MSTR) has introduced a Digital Credit Capital Framework, which includes various capital management measures aimed at enhancing its preferred securities, maintaining long-term bitcoin exposure, and improving its financial flexibility.
The company has set up a board-approved USD reserve policy and increased the dividend on its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) to 12%, effective from July 1. Currently, Strategy’s USD reserve is approximately $2.55 billion, sufficient to cover around 17.4 months of preferred dividends and interest commitments.
The board has authorized, but not committed to, repurchases of up to $1 billion in its Digital Credit Securities and $1 billion in its Class A common stock. These buyback programs do not have a defined expiration and may be adjusted, paused, or ended at any time. Actual repurchases will be contingent upon market conditions and management’s evaluation of their potential benefits.
Additionally, Strategy has sanctioned a Bitcoin Monetization Program, permitting the company to sell BTC at management's discretion. The proceeds may be utilized to enhance or restore the company’s USD reserves, support preferred dividends and interest payments, or finance stock buybacks. The firm highlighted that this program does not obligate it to sell any bitcoin.
Executive Chairman Michael Saylor noted that this framework aims to bolster Strategy’s credit rating while retaining bitcoin as its principal treasury reserve asset. CEO Phong Le characterized this shift as a transition from simply raising capital to proactively managing the company’s capital structure through both issuance and repurchase actions, contingent on market conditions.
MSTR shares surged 6% in pre-market trading, while bitcoin surpassed $60,000 following the announcement. STRC shares rose by 9%, and bitcoin slightly increased to $60,500.
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