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Get filing alertsStrategy Inc adopts $2B buyback framework, authorizes bitcoin sales, raises STRC dividend to 12%
Filed June 29, 2026 · Period ending June 29, 2026 · ~2 min read
Key Changes
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Board authorized selling bitcoin to raise up to $1.25B for reserves and to fund preferred dividends when advantageous versus equity issuance—a significant policy shift from pure accumulation strategy.
Item 8.01 — Other Events verify on EDGAR → -
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STRC preferred dividend rate increased to 12% annually effective July 1, 2026, with new monthly evaluation policy based on trading levels, market yields, and bitcoin volatility rather than automatic adjustments.
Item 8.01 — Other Events verify on EDGAR → -
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Adopted Digital Credit Capital Framework including up to $1B Digital Credit Securities buyback program, up to $1B class A common stock buyback program, and USD Reserve policy requiring 12-month coverage of preferred dividends.
Item 8.01 — Other Events verify on EDGAR → -
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Sold 12.7M class A shares for $1.15B net proceeds during June 22-28, 2026; held 847,363 bitcoin as of June 28 with average cost of $75,651 per bitcoin and no purchases during the week.
Item 8.01 — Other Events verify on EDGAR → -
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Launched public investor dashboard on strategy.com for real-time disclosure of bitcoin holdings, security prices, and key metrics as Regulation FD-compliant distribution channel.
Item 7.01 — Regulation FD Disclosure verify on EDGAR →
Summary
Strategy Inc announced a comprehensive Digital Credit Capital Framework that fundamentally alters its capital allocation approach. The company authorized selling bitcoin—previously accumulated without sales—to raise up to $1.25 billion for reserves and to fund preferred dividends when management deems it more advantageous than equity issuance.
This marks a strategic pivot from pure bitcoin accumulation to active treasury management balancing bitcoin exposure against capital needs.
The framework includes $2 billion in combined buyback authority (up to $1B each for Digital Credit Securities and class A common stock), a USD Reserve policy requiring 12-month coverage of preferred obligations ($2.55B as of June 28), and an increased STRC dividend rate of 12% annually. The STRC rate will now be evaluated monthly based on market conditions rather than automatically adjusting when trading below stated value, giving management more discretion over preferred shareholder returns. For common shareholders, the bitcoin monetization authority introduces execution risk around timing and pricing of potential sales, while the buyback programs and higher preferred dividends compete with bitcoin accumulation for capital. The company held 847,363 bitcoin with average cost of $75,651 as of June 28, having sold $1.15 billion in common stock during the prior week with no bitcoin purchases. Investors should monitor the new dashboard at strategy.com for bitcoin sales activity and reserve coverage levels as the company implements this framework.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Strategy Inc announced a Digital Credit Capital Framework including $2B in buyback programs, BTC monetization authority, and a 12% STRC dividend rate.
Added in current filing · verify on EDGAR →
On June 29, 2026, Strategy Inc (“Strategy” or the “Company”) announced that it has adopted a “Digital Credit Capital Framework”, designed to strengthen the Company’s various series of preferred securities (collectively, “Digital Credit Securities”), enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation for the Company’s stockholders.
Strategy adopted a comprehensive capital framework with five components: a USD Reserve policy requiring minimum 12-month coverage of preferred dividends and interest, a revised STRC dividend policy, a $1 billion Digital Credit Securities repurchase program, a $1 billion class A common stock repurchase program, and a BTC monetization program. The USD Reserve stood at $2.55 billion as of June 28, 2026, and may only be used for preferred dividends and interest payments unless the Board authorizes otherwise.
Added in current filing · verify on EDGAR →
The Company’s Board of Directors has authorized a BTC monetization program (the “BTC Monetization Program”) under which the Company may sell bitcoin from time to time for three primary purposes: • to generate up to $1.25 billion of additional proceeds to fund the USD Reserve; • to additionally fund preferred stock dividends and interest expense as they become payable, or to replenish the USD Reserve after such payments, when management determines that it is more advantageous than issuing class A common stock or other capital markets transactions; and • to additionally fund repurchases of Digital Credit Securities or class A common stock, including related taxes, fees, and transaction expenses, under the repurchase programs described above.
The Board authorized selling bitcoin to raise up to $1.25 billion for the USD Reserve, to fund preferred dividends and interest when advantageous versus equity issuance, and to fund the repurchase programs. This marks a significant policy shift allowing bitcoin sales beyond the company's traditional accumulation strategy, though sales are discretionary and require Board approval beyond these purposes.
Added in current filing · verify on EDGAR →
On June 29, 2026, Strategy announced that it will increase the regular dividend rate per annum on the Company’s Variable Rate Series A Perpetual Stretch Preferred Stock (“STRC”) effective for semi-monthly periods with record dates on or after July 1, 2026, to 12.00%.
Strategy increased the STRC annual dividend rate to 12%, effective July 1, 2026. The company also revised its STRC dividend policy to evaluate the rate monthly based on trading levels, market yields, credit spreads, bitcoin price and volatility, USD Reserve coverage, and capital market conditions, rather than automatically adjusting when STRC trades below its stated amount.
Added in current filing · verify on EDGAR →
MSTR Stock | 12,669,017 | $ - | $ 1,152.4 | $ 24,257.5 | Class A Common Stock
During June 22-28, 2026, Strategy sold 12,669,017 shares of class A common stock under its ATM program for net proceeds of $1,152.4 million, with $24,257.5 million remaining available for issuance. The company held 847,363 bitcoin as of June 28, 2026, with an aggregate purchase price of $64.10 billion and average cost of $75,651 per bitcoin. No bitcoin was purchased during the week.
Added in current filing · verify on EDGAR →
On June 28, 2026, the Company’s board of directors declared semi-monthly cash dividends on STRC, payable on July 31, 2026 to stockholders of record as of 5:00 p.m., New York City time on July 15, 2026, and payable on August 15, 2026 to stockholders of record as of 5:00 p.m., New York City time on July 31, 2026, as summarized in the table below. The declaration of these dividends, and the Company’s obligation to pay these dividends, are contingent upon the Amended and Restated Certificate of Designations of STRC (previously filed with the Secretary of State of the State of Delaware) becoming effective at or before 12:01 a.m., New York City time on June 30, 2026.
The Board declared $0.50 per share semi-monthly STRC dividends for periods ending July 31 and August 15, 2026, contingent on an amended certificate of designations becoming effective by June 30, 2026. The company expects these dividends to be treated as non-taxable returns of capital for U.S. federal income tax purposes.
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Strategy also maintains a dashboard on its website (www.strategy.com) as a disclosure channel for providing broad, non-exclusionary distribution of information regarding Strategy to the public, including information regarding market prices of its outstanding securities, bitcoin purchases and holdings, certain key performance indicator metrics and other supplemental information, and as one means of disclosing non-public information in compliance with its disclosure obligations under Regulation FD.
Strategy announced it maintains a public dashboard on its website to disclose information about its securities prices, bitcoin purchases and holdings, and key performance metrics. This dashboard serves as a Regulation FD-compliant channel for distributing material non-public information to investors. Investors are encouraged to regularly review the dashboard for updates.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 30, 2026 · How we verify