Strategy Eyes $30B Digital Credit for Bitcoin Buys

During Strategy’s third-quarter earnings call, executive chairman Michael Saylor said the company has the capacity to create as much as $30 billion in digital credit using its existing balance sheet. He noted that this could be achieved without new common-stock fundraising or further Bitcoin price gains. CEO Phong Le stated that issuing digital credit would be the main method for acquiring more Bitcoin. Le added that if Strategy raised $1 billion to $2 billion in a month through STRC, it could put some proceeds into dollar reserves and spend the rest on Bitcoin. The $30 billion figure represents a possible capacity, not an announced fundraising target.

Strategy is shifting toward preferred shares such as STRC to fund Bitcoin accumulation rather than relying primarily on convertible debt or common-share sales. The company reported $19.53 billion in third-quarter net income, driven largely by a $20.91 billion gain in the value of its digital assets. Strategy’s Bitcoin holdings reached 848,517 BTC as of Oct. 25, up 26% year to date. Analysts StoneX and TD Cowen kept buy ratings for Strategy after Q3 earnings, citing a $4.83B cash reserve and more stable STRC preferred structure.

CFO Andrew Kang will step down on Nov. 5 for personal reasons. Phong Le will oversee the finance function until Reza Virasteh takes over as CFO on Jan. 1, 2027.