MicroStrategy announced on 29 June 2026 a capital framework that includes selling up to $1.25 billion of bitcoin to strengthen its US dollar cash reserves, alongside two share repurchase programs totalling up to $1 billion each for common and preferred shares. The company also raised its STRC preferred share dividend payout to 12% and disclosed plans to establish a $2.55 billion reserve. The announcement marks a reversal of MicroStrategy's prior strategy of continuous bitcoin accumulation, which had been central to its public identity since 2020.
The disclosure directly affects MicroStrategy's common stock (MSTR), as the repurchase programs are drawn against the same capital framework that governs the bitcoin sales. Bitcoin (BTC) is the asset being liquidated to fund the reserves and buybacks, making the scale of any eventual sales a direct function of bitcoin's market price at the time of execution.
MicroStrategy did not specify a timeline for bitcoin sales or repurchases in the disclosed materials. The company framed the new capital structure as a means of balancing bitcoin accumulation with shareholder returns, including dividends and buybacks, rather than a full exit from its bitcoin treasury strategy.
Sources: Marketwatch TOP, Finnhub, Bloomberg Markets