Strategy has given itself the freedom to sell Bitcoin without restrictions

Strategy’s Board of Directors has approved a resolution allowing the company to sell any amount of Bitcoin at any time. The proceeds from these sales are planned to be used for dividend payments, debt servicing, building a fiat reserve, and share buybacks—in cases where this is more economically advantageous than issuing new securities.

The company’s fiat reserve must now cover at least 12 months of future dividend and interest payments. Any reduction in the reserve below the established threshold will require separate approval by the board of directors. Strategy’s total financial reserve is composed of funds in its accounts and proceeds from the sale of Bitcoin.

According to the board’s estimates, proceeds from the sale of the first cryptocurrency could reach $ 1.25 billion. Together with existing funds, the total amount of resources available for dividend payments will be approximately $ 3.8 billion—enough to cover about 25.9 months.

The board of directors has allocated up to $ 2 billion in a one-time allocation for a share buyback: half for the purchase of preferred shares and half for common shares. However, financing this buyback from the fiat reserve is prohibited. At the same time, the company increased the annual dividend rate on STRC preferred shares from 11% to 12%.

According to its financial reports, Strategy did not purchase any Bitcoin last week; instead, it sold an additional block of MSTR common shares. As a result of this transaction, the company’s fiat reserves reached $ 2.55 billion.

On Friday evening, June 26, STRC preferred shares fell to an all-time low of about $ 71 at a par value of $ 100, losing more than 15% over the week. However, following the announcement of the board of directors' decision, the shares rose by more than 9% in premarket trading.