Strategy's shifting playbook ⚽

The Bitcoin treasury firm paused its weekly Bitcoin buys Monday, while unveiling a "Digital Credit Capital Framework" that would enable it to sell up to $1.25 billion in BTC.

Author

Stephen Graves
June 29, 2026

📝 What you need to know

Strategy’s hints towards a change in its Bitcoin treasury strategy have been formalized, with the firm unveiling a "Digital Credit Capital Framework" that would enable it to sell up to $1.25 billion in BTC to fund its cash reserve, preferred stock dividends and repurchases of securities.

Billed as a shift towards “active capital management” by Strategy founder and Executive Chairman Michael Saylor, the move comes after the firm moved to “inoculate the market” by selling a small amount of BTC at the start of the month—sparking turmoil in the crypto markets. Notably, Monday’s announcement was accompanied by a pause in Strategy’s Bitcoin buys, as it rebuilt its so-called USD reserve to $2.55 billion.

Strategy’s stock price popped on the news, while Bitcoin remained relatively flat on the day. That suggests that the move may have already been priced in—no surprise, given that analysts had already called on the firm to halt Bitcoin buys and shore up its cash stockpile, after it had slimmed to cover just 14 months’ worth of recurring costs.

Strategy Could Sell Up to $1.25B of Bitcoin Under 'Digital Credit Capital Framework'

The Bitcoin treasury firm has approved a framework for "active capital management," its Chair Michael Saylor said in a statement.

📰 In the News

California Strikes Deal With Anthropic to Bring Claude AI to State Agencies

Anthropic’s agreement makes Claude the first AI tool available to all state agencies and local governments, at half price.

Tom Lee's BitMine Adds $43 Million in Ethereum as Strategy Halts Bitcoin Buys

BitMine Immersion Technologies continued adding to its Ethereum stockpile, even as its Bitcoin counterpart Strategy stood pat.

Ukraine Takes $8.3M in Seized Crypto Under State Management in a First

Over 8.3 million USDT seized from an alleged hacking ring has been moved to a wallet held by Ukraine's asset-recovery agency, ARMA.

With over 75 markets, the Myriad World Cup 2026 Contest enables users to make predictions on every single match. A prize pool of $100,000 is on offer for top traders and makers. The top three traders receive $20,000, $10,000 and $5,000 respectively.

📊 Myriad Insight of the Day

Will Strategy hold over 1M BTC before 2027?
YES 15%85% NO
  
Why it matters
Strategy unveiled a "Digital Credit Capital Framework" Monday authorizing up to $1.25 billion in Bitcoin sales to fund cash reserves and STRC dividends. The board explicitly approved BTC monetization—the inverse of accumulation—after STRC fell to $71.25 Friday. Holdings remain at 847,363 BTC; clearing 1M needs another 153,000 by year-end. Strategy also said it won't issue common stock for BTC purchases at its current mNAV discount.
Trade

🕵🏻‍♀️ Editor’s Picks

This AI Agent Survived 6,000 Hack Attempts—Here’s How

Developer Fernando Irarrázaval's AI agent experiment drew over 6,000 hack attempts from more than 2,000 attackers. No one could break it.

Linux Foundation, Tech Giants Launch Akrites to Defend Open Source Against AI-Powered Attacks

Akrites is a coalition of 19 organizations, including every major AI lab and Wall Street banks, built to defend open-source projects.

Kalshi Scores FIFA World Cup Spotlight as Prediction Market Trading Surges to Record

As prediction markets notch record trading volumes, Kalshi is ramping up its marketing push through a high-profile FIFA World Cup deal.

🥇 Be First to Market With Myriad

Join the Myriad Markets Telegram to see the latest prediction markets the second they drop!

With Myriad, the on-chain prediction market launched by Decrypt’s parent company DASTAN, you can break the news and stake the news, using USDC and points.

📚 Watch, Listen & Learn

📹️ WATCH: Saylor Could Sell $1.2B in BTC, ANSEM Token Hits $120M High, & World Cup Knockout Predictions

🎧 LISTEN: The Decrypt News roundup with TylerD - June 29th

Bitcoin is staring down a rare back-to-back quarterly loss. Strategy is now worth less than the Bitcoin it holds. And Coinbase's CEO is wrestling with whether his own app has become a casino.

🎓️ LEARN: What Is Strategy (MSTR)? The Bitcoin Treasury Company

Software firm Strategy (formerly MicroStrategy) and its co-founder Michael Saylor have become synonymous with Bitcoin. Here’s what you need to know.

Interested in partnering with Decrypt? Find out more here.