Strategy Inc has adopted a Digital Credit Capital Framework built around five components: a USD reserve policy, a revised STRC dividend policy, a $1.0 billion Digital Credit Securities repurchase program, a $1.0 billion class A common stock buyback, and a BTC monetization program.
The announcement marks a notable shift for the company, which can now sell bitcoin under defined conditions for the first time.
Reserves and dividends
Strategy’s USD Reserve stood at roughly $2.55 billion as of June 28, 2026, covering about 17.4 months of the company’s $1.76 billion in annual expected preferred dividends and interest expense.
The board set a policy requiring a minimum reserve equal to 12 months of those obligations.
Combined with $1.25 billion in authorized reserve-building BTC sales, total coverage reaches roughly $3.80 billion, or 25.9 months.
The company also raised the dividend rate on its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) to 12.00% per annum, effective for record dates on or after July 1, 2026. Strategy aims for STRC to trade near its $100 stated amount over time.
Selling bitcoin
The BTC Monetization Program lets Strategy sell bitcoin to fund the USD Reserve, cover dividends and interest, or finance buybacks when more advantageous than issuing common stock.
Founder and Executive Chairman Michael Saylor said:
“Strategy remains committed to Bitcoin as its primary treasury reserve asset. At the same time, Digital Credit requires liquidity, discipline, and active capital management.”
Transition
CEO Phong Le described the move as a transition “from one-way capital issuance to active capital management.”
CFO Andrew Kang added that “Bitcoin is capital,” giving Strategy flexibility to strengthen its credit instruments without always issuing equity.
