Michael Saylor built his reputation on one rule: buy Bitcoin, never sell. That rule now has an asterisk.
On June 29, 2026, Strategy Inc., the company formerly known as MicroStrategy, announced what it calls the “Digital Credit Capital Framework,” a new policy that formally authorizes the sale of up to $1.25 billion in Bitcoin. It is the first time the company’s board has approved selling Bitcoin in any structured capacity.
What the new framework actually does
Strategy still holds over 845,000 BTC and is targeting 1 million BTC by the end of 2026. The new framework is designed to generate liquidity for about 12 months of preferred stock dividends and interest payments, cover share buybacks of up to $1 billion each for common and preferred shares, and give management flexibility when equity issuance becomes difficult or expensive.
The company had already tested this approach before the formal announcement. It sold $2.5 million in Bitcoin in June 2026, then moved $135 million shortly after the framework became official.
