Strategy Inc., the company formerly known as MicroStrategy, has spent years making one argument to Wall Street: Bitcoin is the ultimate treasury asset, and everything else is noise. On June 29, 2026, it complicated that argument, in the best possible way.
The company unveiled its Digital Credit Capital Framework, a multi-part restructuring of how it manages its balance sheet. Cantor Fitzgerald responded by reiterating its Overweight rating on the stock and setting a price target of $212, a level that would represent roughly 115% upside from where shares were trading at the time of the announcement.
In the immediate aftermath of the news, Strategy’s stock moved between 5% and 12% higher.
What the framework actually does
The first piece is a USD reserve policy requiring the company to maintain a minimum of 12 months of cash coverage at all times. As of June 28, 2026, Strategy held a $2.55 billion USD reserve, and its total liquidity coverage reached approximately $3.8 billion, representing around 25.9 months of obligations.
