Strategy Inc. just did something it swore it would never do. The company announced a Digital Credit Capital Framework on June 29 that formally permits the sale of Bitcoin from its treasury, ending the “never sell” mantra that defined Michael Saylor’s multi-year accumulation strategy.
The framework authorizes up to $1.25 billion in Bitcoin sales through a newly created monetization program. It also greenlights $2 billion in total repurchases, split evenly between $1 billion in Digital Credit Securities and $1 billion in Class A common stock. MSTR shares responded favorably, climbing nearly 7-8% in pre-market trading.
What the framework actually does
Strategy currently holds approximately 847,363 BTC, acquired at an average cost of roughly $75,651 per coin. The company’s USD Reserve currently sits at approximately $2.55 billion. Combined with the $1.25 billion Bitcoin monetization authorization, Strategy says it has roughly 25.9 months of liquidity coverage. That’s important because the company’s preferred dividends and interest obligations run about $1.76 billion annually.
This wasn’t entirely without precedent. In late May 2026, Strategy quietly sold 32 BTC for approximately $2.5 million. It was the company’s first Bitcoin sale since 2022, a small transaction that now looks like a test run for the broader framework.
