Strategy Creates a Formal Bitcoin Monetization Framework and Begins Selling BTC
Strategy’s board adopted a Digital Credit Capital Framework that included a formal BTC Monetization Program, a USD reserve policy, and securities repurchase tools. Strategy then sold 1,363 BTC on June 29–30, turning Bitcoin from an almost exclusively accumulated reserve asset into an explicit source of corporate liquidity within a broader capital-management system.
On June 29, 2026, Strategy’s board adopted what the company called its Digital Credit Capital Framework, a five-part capital-management system built around its preferred stock, liquidity needs, and enormous Bitcoin treasury. One component was a formal BTC Monetization Program authorizing Strategy to sell bitcoin from time to time, including to generate up to $1.25 billion of additional proceeds for its U.S.-dollar reserve.
The framework also established a USD Reserve policy intended to support preferred-stock dividends and interest on outstanding debt, a revised dividend policy for STRC preferred shares, and repurchase programs for preferred and common stock. The importance of the BTC Monetization Program was that Bitcoin was no longer treated only as an asset to accumulate and hold. The company explicitly incorporated sales of BTC into a broader liquidity and capital-allocation mechanism.
The program moved immediately from authorization to use. Strategy later disclosed that it sold 1,363 BTC on June 29 and June 30 for approximately $80.8 million at an average net sale price of $59,256. The proceeds were used to fund preferred-stock distributions and replenish the USD Reserve. Strategy still held approximately 846,000 BTC at June 30, so the sales represented a small portion of its treasury, but the direction of use was historically different from the company’s long-running accumulation narrative.
Strategy had already made a smaller Bitcoin sale in May 2026, so June should not be described as its first-ever sale. What changed on June 29 was the institutionalization of selling as an authorized capital-management tool. Later July sales and August transactions continued the framework, while Strategy subsequently returned to major Bitcoin purchases. Those later stages confirm the framework’s significance without changing the June event date.