Strategy Inc. (Nasdaq: MSTR, STRF, STRC, STRK, STRD) announced the creation of a Digital Capital Management System on June 29, 2026.
This system includes a dollar reserve policy, a revised dividend policy for STRC preferred shares, two repurchase programs, and a Bitcoin monetization program.
As of June 28, 2026, the company's dollar reserves totaled approximately $2.55 billion, covering approximately 17.4 months of current annual preferred share dividend payments and interest expense of approximately $1.76 billion. Strategy's board of directors has established a policy requiring the maintenance of a minimum reserve of at least 12 months of such obligations. Any reduction below this threshold requires board approval.
Strategy increased the dividend rate on its Series A Variable Rate Preferred Stock (STRC) to 12.00% per annum, effective for semi-monthly periods with expiration dates on or after July 1, 2026. The company stated its corporate goal of ensuring that STRC shares trade near their stated price of $100 over time, but did not guarantee this outcome.
The company has approved two separate repurchase programs of $1.0 billion each: one for digital credit securities, including STRC, STRF, STRD, and STRK, and the other for its Class A common stock. Neither program has a fixed expiration date or a commitment to purchase any specific volume. Neither program will be funded from dollar reserves.
The Board of Directors also approved the BTC Monetization Program, which allows Strategy to sell Bitcoin for three purposes: to build a dollar reserve of up to $1.25 billion, to fund preferred dividend and interest payments when this is more cost-effective than issuing shares, and to fund share repurchases. Combined with the $2.55 billion dollar reserve, Strategy estimates that its total liquidity coverage reaches approximately $3.80 billion, equivalent to approximately 25.9 months of current annual liabilities.
"Strategy is evolving from a one-sided capital issuance to active capital management," said Phong Le, CEO of Strategy.