Strategy launches capital framework with $2.55B reserve and BTC sales plan

Strategy Inc. (Nasdaq: MSTR, STRF, STRC, STRK, STRD) announced a Digital Credit Capital Framework on June 29, 2026, encompassing a USD reserve policy, a revised dividend policy for its STRC preferred stock, two repurchase programs, and a Bitcoin monetization program.

The company reported a USD reserve of approximately $2.55 billion as of June 28, 2026, which covers roughly 17.4 months of its current annual expected preferred stock dividend payments and interest expense of approximately $1.76 billion. Strategy's board established a policy requiring a minimum reserve equal to at least 12 months of such obligations. Any reduction below that threshold requires board authorization.

Strategy raised the dividend rate on its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) to 12.00% per annum, effective for semi-monthly periods with record dates on or after July 1, 2026. The company stated a corporate objective for STRC to trade near its $100 stated amount over time, though it did not guarantee that outcome.

The company authorized two separate $1.0 billion repurchase programs — one for its Digital Credit Securities, including STRC, STRF, STRD, and STRK, and one for its class A common stock. Neither program carries a fixed expiration date or an obligation to purchase any specific amount. Neither will be funded from the USD reserve.

The board also authorized a BTC Monetization Program allowing Strategy to sell Bitcoin for three purposes: generating up to $1.25 billion to build the USD reserve, funding preferred dividend and interest payments when deemed more advantageous than equity issuance, and funding security repurchases. Combined with the $2.55 billion USD reserve, Strategy said total liquidity coverage reaches approximately $3.80 billion, or about 25.9 months of current annual obligations.

"Strategy is evolving from one-way capital issuance to active capital management," said Phong Le, Chief Executive Officer of Strategy.

Information in this article is based on a press release issued by Strategy Inc.

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