Strategy Inc., the company formerly known as MicroStrategy, sold $135 million worth of Bitcoin last week. But if you’re wondering whether that dipped into the company’s freshly minted $1.25 billion Bitcoin selling program, the answer is no. The sale was classified as a direct dividend payment, which means the monetization war chest hasn’t been touched yet.
Matthew Sigel, Head of Digital Assets Research at VanEck, clarified the distinction on July 7. The $135 million sale existed in its own accounting lane, separate from the BTC Monetization Program that Strategy authorized just days earlier. In English: the company found a way to sell Bitcoin and pay shareholders without technically spending any of its new selling allowance.
The Digital Credit Capital Framework, explained
On June 29, Strategy unveiled what it calls the Digital Credit Capital Framework. This is a big deal. It marks the first time in the company’s history that Bitcoin sales have been formally authorized.
The BTC Monetization Program, which sits at the center of the framework, caps reserve-related Bitcoin sales at $1.25 billion. Think of it as a controlled release valve. The company can sell Bitcoin to build cash reserves, but only up to that ceiling.
