Strategy Inc. Announces Capital Framework with $2.55B Reserve and Bitcoin Sales Authorization

Strategy Inc. announced a new Digital Credit Capital Framework on June 29, 2026, aimed at active capital management. The framework includes a new U.S. dollar reserve policy, two security repurchase programs, a revised dividend policy for certain preferred stock, and a program to monetize its Bitcoin holdings.

As part of the new policy, the company reported a USD reserve of approximately $2.55 billion as of June 28, 2026. This amount covers roughly 17.4 months of its current annual expected preferred stock dividend payments and interest expenses. Strategy's board has established a minimum reserve requirement equal to at least 12 months of these obligations.

The company also authorized two separate $1.0 billion repurchase programs, one for its Digital Credit Securities and another for its class A common stock. According to the announcement, these programs do not have a fixed expiration date and will not be funded from the established USD reserve. Additionally, the dividend rate on its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) was increased to 12.00% per annum, effective for periods with record dates on or after July 1, 2026.

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A key component of the framework is a new BTC Monetization Program, which authorizes the company to sell Bitcoin. The sales are intended for three main purposes: to generate up to $1.25 billion to build the USD reserve, to fund dividend and interest payments, and to fund the security repurchase programs.

Combined, the existing $2.55 billion reserve and the potential proceeds from Bitcoin sales provide what the company describes as approximately $3.80 billion in total liquidity coverage. "Strategy is evolving from one-way capital issuance to active capital management," said Phong Le, Chief Executive Officer of Strategy, in a statement.