Strategy Executive Chairman Michael Saylor said the company could create between $10 billion and $30 billion in "digital credit" without new common-stock issuance or higher Bitcoin prices. The range describes capacity, not a fundraising target, and it rests on preferred shares that carry a standing payout obligation.
Strategy's Michael Saylor said on the company's third-quarter 2026 earnings call that Strategy may no longer need new common-stock sales or rising Bitcoin prices to fund its Bitcoin purchases. His pitch is that the existing balance sheet could back between $10 billion and $30 billion in what the company calls "digital credit."
The $30 billion figure is capacity, not a target
Saylor described the range as financing capacity that would not require new common-stock issuance or further gains in Bitcoin's price. However, the figure is not a fundraising target the company plans to hit immediately.
CEO Phong Le added that the main way Strategy will acquire more Bitcoin going forward is by issuing preferred securities, particularly perpetual preferred shares such as STRC. The Motley Fool notes that digital credit is perpetual preferred stock, so Strategy still funds itself with stock.
Balance sheet and existing credit securities
As of October 25, 2026, Strategy held 848,517 BTC. The company also reported about $5.07 billion in dollar assets, which by its own math could cover preferred dividends and debt interest for roughly 3.4 years.
Strategy already has $16 billion in notional digital credit securities outstanding across ten listed instruments. The top end of Saylor's range would be larger than everything it has issued in this category so far.
Bitcoin and Strategy shares fall as preferred stock builds
Timing matters here. According to the Motley Fool, Bitcoin traded near $68,500 on Nov. 12, down about 18% over the past month, and Strategy's stock fell roughly 28% over the same period.
Preferred shares trade a standing dividend obligation for less dilution, and that obligation has to be paid regardless of where Bitcoin trades. The Motley Fool adds that about $13 billion of preferred is already outstanding against a common market cap near $47 billion.
Sources: Crypto Briefing, Fool
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