Unveils Digital Credit Framework With $2B Buyback and BTC Monetization Plan

TLDR

• Strategy unveils Digital Credit Framework with $2B in buyback plans.

• MSTR rebounds pre-market after closing down 3.54% at $82.31.

• Strategy sets a $2.55B USD reserve for dividends and debt interest.

• STRC dividend rate rises to 12% from July 1, 2026 records.

• BTC sales may fund reserves, obligations, and accretive buybacks.

Strategy introduced a new Digital Credit Capital Framework after MSTR closed at $82.31, down 3.54%. The stock later rose to $87.82 in pre-market trading, gaining 6.69%. The company said the framework supports preferred securities, liquidity, Bitcoin exposure, and long-term shareholder value.

Strategy Inc, MSTR

Strategy Sets USD Reserve Policy

Strategy said its USD Reserve stood at about $2.55 billion as of June 28, 2026. The figure includes expected cash proceeds from unsettled at-the-market share sales. The company limited reserve use to preferred dividends and debt interest, unless the board approves another use.

The company said current annual preferred dividends and interest costs stand near $1.76 billion. Therefore, the reserve covers about 17.4 months of those payments. The board also set a minimum reserve policy equal to at least 12 months of coverage.

Strategy plans to pair the reserve with board-authorized Bitcoin monetization capacity. That structure would lift total liquidity coverage to about $3.80 billion. As a result, the company estimates 25.9 months of current preferred dividend and interest coverage.

STRC Dividend Rate Rises to 12%

Strategy also raised the regular annual dividend rate on STRC to 12.00%. The change applies to semi-monthly periods with record dates on or after July 1, 2026. The adjustment does not affect previously declared but unpaid STRC dividends.

The company said it wants STRC to trade near its $100 stated amount over time. Still, Strategy did not guarantee any trading level for the preferred security. It said STRC prices may move below that range, depending on market conditions.

Strategy plans to review the STRC dividend rate each month. The review will include trading levels, market yields, credit spreads, Bitcoin prices, and reserve coverage. The company may also use reserve management, repurchases, or Bitcoin sales when needed.

Buybacks and Bitcoin Sales Expand Capital Options

Strategy approved a repurchase program of up to $1.0 billion for its Digital Credit Securities. The program covers STRC, STRF, STRD, and STRK preferred securities. The company expects STRC to take priority when repurchases support the capital structure.

The company also approved a separate $1.0 billion class A common stock repurchase program. Strategy said it may buy shares through open-market deals, block trades, or other legal methods. However, the authorization does not require any purchase and carries no fixed end date.

Strategy also approved a Bitcoin Monetization Program for specific capital needs. The company may sell Bitcoin to build the USD Reserve, pay obligations, or fund buybacks. Even so, Strategy said Bitcoin remains its main treasury reserve asset.