Strategy BTC monetization plan has no fixed expiration date

Jinse Finance reported on June 29 that, according to an 8-K filing submitted by Strategy to the US SEC, its BTC monetization plan does not have a fixed expiration date and may be amended, suspended, or terminated at any time. The BTC monetization plan does not require Strategy to sell any BTC, nor does it mandate paying any dividends or interest through BTC sales, or repurchasing any securities. Any BTC monetization will depend on market conditions, liquidity needs, tax and accounting factors, applicable legal requirements, and management’s assessment of long-term shareholder value.Strategy’s Chief Financial Officer Andrew Kang stated: “Bitcoin is capital. This plan gives Strategy flexibility, enabling it to leverage part of its Bitcoin reserves to strengthen digital credit, supplement USD reserves, pay dividends and interest expenses, and conduct accretive buybacks when converting Bitcoin is more attractive than issuing common stock. Strategy holds USD reserves of $2.55 billion and has a Bitcoin monetization authorization of $1.25 billion from the board, currently covering approximately 25.9 months of preferred stock dividend liquidity.”