Bitcoin News said in a post on X that Strategy raised $17.06 billion through its 2026 capital plan, including $7.53 billion from STRC, and increased its Bitcoin holdings to 843,800 BTC. The company also set up a $3.75 billion USD Reserve, which it said is enough to cover more than 2.1 years of preferred stock dividends and interest payments. In its liability management efforts, Strategy repurchased $1.5 billion of convertible notes at an 8% discount and bought back STRC below par value. It also sold $218 million worth of Bitcoin to help fund preferred stock dividends. The report added that future Bitcoin sales could also be used to replenish reserves and fund stock buybacks. It introduced two new metrics as well, including BTC Hurdle ARR, currently at 10.8%, which the company described as its effective credit cost. CFO Andrew Kang said that when Bitcoin’s annual return exceeds that threshold, net Bitcoin growth per share outpaces Bitcoin itself.
Bitcoin News said in a post on X that Strategy raised $17.06 billion through its 2026 capital plan, including $7.53 billion from STRC, and increased its Bitcoin holdings to 843,800 BTC.
The company established a $3.75 billion USD Reserve, which it said is enough to cover more than 2.1 years of preferred stock dividends and interest payments.
On liability management, Strategy repurchased $1.5 billion of convertible notes at an 8% discount and also bought back STRC below par value. At the same time, it sold $218 million worth of Bitcoin to help pay preferred stock dividends.
The report said future Bitcoin sales may also be used to replenish reserves and provide funding for stock buybacks.
The filing also introduced two new metrics. BTC Hurdle ARR currently stands at 10.8% and represents Strategy’s effective credit cost. CFO Andrew Kang said that when Bitcoin’s annual return rises above that hurdle, net Bitcoin growth per share increases faster than Bitcoin itself.
The document laid out the financial system Strategy has built around its Bitcoin treasury. It said the USD Reserve, the Bitcoin Monetization Program, the Digital Credit framework, debt repurchases and the new KPIs all sit within the same structure. According to the filing, the company is building a model that raises capital, manages liabilities, pays investors and measures performance through a per-share Bitcoin lens.
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