Saylor's $1.25B Bitcoin Fire-Sale Plan: Sells BTC to Buy His Own Stock 🍿

Strategy unveiled a "Digital Credit Capital Framework" on Monday under which the Bitcoin treasury firm could sell as much as $1.25 billion worth of the digital asset to shore up liquidity, service preferred-stock dividends, or repurchase common stock when deemed accretive. "Strategy remains committed to Bitcoin as its primary treasury reserve asset," co-founder and Executive Chairman Michael Saylor said in a statement. "At the same time, Digital Credit requires liquidity, discipline, and active capital management." Saylor added that the framework is intended to "strengthen credit quality" and enable Strategy to "reduce expected preferred stock dividend payments when accretive."

The announcement came as Bitcoin changed hands around $59,800, down 0.5% over the past day, per CoinGecko data, while Strategy's shares advanced 5% in pre-market trading to $86.52, according to Yahoo Finance. The company did not disclose a new Bitcoin purchase, instead noting that its USD Reserve had been rebuilt to $2.25 billion—matching the level set at the start of the year for managing dividends and debt. At that level, Strategy said its cash stockpile can cover roughly a year-and-a-half worth of dividends, addressing prior analyst concerns that reserves had slimmed to cover just 14 months of recurring costs.

The framework arrives as Strategy's flagship preferred stock, known as Stretch (STRC), has come under pressure. STRC tumbled again on Friday when U.S. markets opened, setting another record low while Bitcoin lingered below the $60,000 mark. The board's approval of the new program gives Strategy flexibility to liquidate as much as $1.25 billion in Bitcoin when market or balance-sheet conditions warrant.

In related industry developments, tokenization firm Securitize inched closer to its expected New York Stock Exchange debut next week under the ticker "SECZ," following the completion of its merger with a Cantor Fitzgerald-backed blank-check company. Separately, ADI Predictstreet, the Gibraltar-licensed prediction market that unveiled a FIFA sponsorship in April, announced a collaboration with Kalshi heading into the knockout stage of the World Cup 2026, with both brands expected to be shown across stadium signage.