Strategy Executive Chairman Michael Saylor described $10 billion to $30 billion in possible digital-credit capacity at an Oct. 29 webinar, outlining a financing range without announcing a transaction.
Saylor said the company could support that range without additional equity capital or Bitcoin appreciating. He presented it as potential capacity based on Strategy’s existing capital structure, not a stated fundraising target. The company has not specified when it might issue digital credit or which instruments could make up the range.
Strategy held 848,517 Bitcoin (BTC) as of Oct. 25, according to its third-quarter results release. Its dollar-denominated assets totaled $5.07 billion, including $4.83 billion in reserves and $242.4 million in cash. The company said those assets could cover preferred dividends and debt interest for about 3.4 years.
The capital structure also includes continuing dividend obligations. STRC had a 12% annualized dividend rate as of Oct. 25. Preferred stock ranks ahead of common stock for dividend payments and claims on company assets in a liquidation, giving preferred holders priority over common shareholders.
By Oct. 25, STRC buybacks totaled $2.04 billion for the year, leaving about $956.7 million under the authorization. Strategy’s third-quarter release also reported that MSTR at-the-market sales generated $5.4077 billion after expenses for the quarter that closed Sept. 30.
The capacity estimate follows earlier comments that digital-credit issuance could help fund Bitcoin purchases, covered in earlier coverage of Strategy’s digital-credit plan. Strategy’s results release scheduled daily STRC dividends to start Nov. 1, with daily dividends on STRF, STRK and STRD due to start Jan. 1, 2027.
