Michael Saylor said Strategy could raise between $10 billion and $30 billion in digital credit, backed by its balance sheet and Bitcoin reserves, without issuing new common shares or relying on further Bitcoin price gains. CEO Phong Le explained that the company would acquire more Bitcoin primarily by issuing perpetual preferred securities, including the STRC ticker, which pays a fixed dividend but carries no voting rights and has no maturity date. As of October 25, 2026, Strategy held 848,517 BTC, up 26% for the year, alongside about $5.07 billion in dollar assets estimated to cover preferred dividends and debt interest for roughly 3.4 years. Strategy already has $16 billion in digital credit securities outstanding across ten listed instruments, so the upper end of the proposed range would exceed its current issuance in this category. The strategy could reduce dilution for common shareholders, but it would increase annual dividend obligations that rank ahead of their claims and further expose the company’s results to Bitcoin volatility.
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