Overview
- In mid‑July, Strategy sold roughly 4.8 million MSTR shares for about $466.7 million to lift its U.S. dollar reserve to around $3 billion and paused net Bitcoin purchases while rebuilding liquidity.
- The company is operating under its Digital Credit Capital Framework that limits reserve use to covering preferred dividends and interest and requires at least 12 months of coverage for those obligations.
- CEO Phong Le said the firm will resume issuing STRC preferred shares and restart larger Bitcoin buys only after STRC trades back to its $100 par value, with no firm timeline given.
- Le personally bought $1 million of STRC to signal confidence and told Bloomberg that Strategy feels “very secure” unless Bitcoin falls to roughly $8,000–$10,000, a level he said would force reassessment of debt risk.
- Strategy still targets long‑term accumulation funded by future equity and debt—management cites an ~$80 billion capital plan and a goal of roughly 1 million BTC—while keeping conditional monetization as a tool to protect dividend coverage and balance‑sheet stability.