Strategy出台售币授权框架，仅三类场景可出售比特币

Odaily Planet Daily News: Strategy has officially released the "Digital Credit Capital Framework," introducing a Bitcoin liquidation authorization mechanism and simultaneously establishing a share buyback plan with a cap of $1 billion.

The company's board has defined three types of compliant Bitcoin sale scenarios: First, to supplement USD reserves, with a maximum addition of $1.25 billion in cash, while current USD reserves stand at approximately $2.555 billion; Second, when it is more cost-effective compared to issuing new shares for financing, selling BTC to pay preferred stock dividends and interest; Third, to fund the common stock and preferred stock buyback plans, covering transaction fees and taxes.

Any Bitcoin sales exceeding the above purposes and limits must undergo additional approval from the board; this framework has no fixed term, no mandatory selling requirements, and the company can adjust or terminate it at any time.

Industry interpretation points out that this plan is a tool for liquidity management in a bear market, used to address issues such as dividend payments and stock price pressure. It is merely a short-term flexible adjustment measure, and Strategy's core strategy of long-term BTC accumulation and leveraging financial instruments to amplify Bitcoin exposure has not changed.