Strategy authorized a new bitcoin monetization program that permits the sale of its bitcoin holdings for specific financial purposes. The program allows up to $1.25 billion of bitcoin sales to build a USD reserve for preferred stock dividends and interest, and to replenish the reserve after distributions. It also authorizes up to $1 billion for repurchases of digital credit securities and up to $1 billion for common stock buybacks. No overall cap on total bitcoin sales is set; any additional sales require board approval. The filing states the company is not obligated to sell any bitcoin, but the board has approved the framework to use bitcoin sales when more advantageous than issuing equity or other financing. The plan is part of a broader capital allocation strategy that raises the preferred stock dividend to 12%, establishes a USD reserve policy, and requires cash reserves to cover at least 12 months of dividend and interest payments. Michael Saylor, founder and executive chairman, said the framework is intended to strengthen credit quality, provide liquidity, and enable the company to reduce preferred stock dividend payments when accretive while maintaining long‑term bitcoin exposure. Strategy’s shares rose about 3% after the announcement. Bitcoin was trading below $60,000 at the time.