Strategy (formerly MicroStrategy) is looking to finance additional Bitcoin purchases through preferred-share offerings, with executive chairman Michael Saylor saying the Bitcoin treasury company has the capacity to create as much as $30 billion in digital credit.

Speaking on Strategy's third-quarter earnings call, Saylor said the company could generate that amount using its existing balance sheet, without an additional common-stock capital raise or further Bitcoin price appreciation. The framing is notable because it positions preferred shares — not convertible debt or common-stock sales — as the engine of future Bitcoin purchases, and because it implies the company believes it can keep accumulating without needing the Bitcoin price to move higher.

“We could create $10 billion, $20 billion, $30 billion of digital credit,” Saylor said.

The potential financing capacity highlights the company's shift toward preferred shares such as STRC to fund Bitcoin accumulation, rather than relying primarily on convertible debt or common-share sales. Because that route sidesteps common-stock issuance, it would expand the company's buying power without the common-stock raises Saylor said are no longer necessary.

Chief Executive Phong Le said during the call that issuing digital credit would be the main method for acquiring more Bitcoin. “The primary way to acquire Bitcoin is by issuing digital credit,” Le said.

He added that if Strategy raised $1 billion to $2 billion in a month through STRC, it could place some of the proceeds into dollar reserves and spend the rest on Bitcoin.

According to Strategy's third-quarter 2026 financial results announcement and a filing with the U.S. Securities and Exchange Commission, 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. That composition means Strategy's reported profitability is closely tied to the value of its Bitcoin holdings. Its Bitcoin holdings reached 848,517 BTC as of Oct. 25, up 26% year to date.

The $30 billion figure represents a possible capacity, not an announced fundraising target — a distinction that separates the company's stated issuing headroom from any committed raise.

Strategy also disclosed that Chief Financial Officer Andrew Kang will step down on Nov. 5 for personal reasons, a transition disclosed alongside the earnings results in which executives outlined the digital credit strategy. Le will oversee the finance function in the interim until Reza Virasteh takes over as CFO on Jan. 1, 2027.

Related: Strategy skips Bitcoin purchases, spends $205M on STRC buybacks

Source: Cointelegraph