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Strategy could create as much as $30 billion in digital credit from its existing balance sheet, executive chairman Michael Saylor said on the company’s third-quarter earnings call, as the Bitcoin treasury firm looks to finance further BTC purchases without an additional common-stock capital raise or further Bitcoin price appreciation, Cointelegraph reported.
On the call, Saylor put the possible range at $10 billion, $20 billion or $30 billion of digital credit. CEO Phong Le said issuing digital credit would be the company’s main method for acquiring more Bitcoin, and that if Strategy raised $1 billion to $2 billion in a month through its STRC preferred shares, it could place some proceeds in dollar reserves and spend the rest on BTC.
Also read: Strategy Buys 334 Bitcoin, Spends $176.3M on STRC Buybacks
Key facts
- Saylor said Strategy could create up to $30 billion in digital credit from its existing balance sheet, a possible capacity rather than an announced fundraising target.
- Strategy reported $19.53 billion in third-quarter net income, driven largely by a $20.91 billion gain in the value of its digital assets, according to the company’s third-quarter 2026 results release.
- Its Bitcoin holdings reached 848,517 BTC as of Oct. 25, up 26% year to date.
- STRC preferred shares closed at $99.49 on Oct. 27, near their 52-week high of $100.42, per Crypto Briefing.
- AMBCrypto, citing VanEck research, reported STRC climbed to $99.92, close to its $100 peg, and that Strategy has bought back $2.05 billion of STRC.
Preferred shares replace convertible debt as the funding channel
The $30 billion figure reflects a change in how Strategy funds its Bitcoin accumulation. The company has shifted toward preferred shares such as STRC rather than relying primarily on convertible debt or common-share sales. Le described digital-credit issuance as the primary route to more BTC, with monthly STRC raises split between dollar reserves and Bitcoin purchases.
The quarter’s results underline the scale of the balance sheet behind that plan: net income of $19.53 billion was driven largely by a $20.91 billion gain in the value of the company’s digital assets, and holdings stood at 848,517 BTC as of Oct. 25.
Reports differ on the STRC trigger level
The coverage differs on how close STRC is to the $100 mark and what happens at it. Crypto Briefing, citing @BitcoinArchive, reported the preferred shares reached a five-month high and that Saylor has indicated plans to resume significant Bitcoin purchases once the STRC share price hits $100; the shares closed at $99.49 on Oct. 27, near a 52-week high of $100.42. The outlet also reported that Strategy allocated $204.9 million to repurchase roughly 2.07 million STRC shares.
AMBCrypto reported a slightly different price, putting STRC at $99.92. It cited VanEck head of digital asset research Matthew Sigel, who noted that the last time STRC regained par, on Jan. 6, the ATM was restarted the next business day to buy Bitcoin. Sigel flagged STRC as overvalued and said he is very underweight digital asset treasuries, but added that a move to par would probably be positive for BTC and MSTR on the margin, according to AMBCrypto.
Why it matters
Strategy is the largest corporate Bitcoin holder, so the pace of its buying has been a visible source of demand for the asset. AMBCrypto reported that the firm accounted for 71% of Bitcoin treasury demand since late 2025, acquiring over 216,000 BTC, but that its bids cooled in the second half of 2026 while other treasury firms sold holdings. A resumption funded by preferred shares would concentrate that demand back in one issuer rather than spreading it across the sector.
What to watch
The immediate marker is whether STRC closes at or above $100, the level Crypto Briefing and AMBCrypto both tie to a possible restart of Bitcoin purchases, and whether Strategy follows with an STRC issuance and a disclosed BTC buy.
This article is informational and is not financial advice; crypto markets are volatile and prices can change quickly.
Reported by Cointelegraph.
Sources: Cointelegraph, Crypto Briefing, AMBCrypto