Strategy Opens Bitcoin Sales Door as UK Undercuts EU Stablecoin Rules

Strategy Inc. (MSTR), the world's largest corporate bitcoin holder, unveiled a sweeping Digital Credit Capital Framework on June 29 that authorizes up to $1.25 billion in bitcoin sales and $2 billion in share buybacks. The framework also raises the annual dividend on its STRC preferred shares to 12%, effective July 1. CEO Phong Le said the firm would sell bitcoin when advantageous, marking a clear shift from the company's long-held posture of passive accumulation toward active balance-sheet management.

The announcement sent MSTR shares up more than 12% and pushed BTC briefly above $60,000. Bitcoin Magazine reported that the five-part framework includes a board-approved USD reserve policy and a bitcoin monetization program that allows BTC sales to fund reserves, dividends, and stock repurchases. Strategy's USD reserve stood at roughly $2.55 billion as of June 28, covering about 17.4 months of expected preferred dividend and interest obligations.

UK Stablecoin Move Rattles EU Regulatory Landscape

Across the Atlantic, the UK's Financial Conduct Authority proposed lowering stablecoin capital buffers in a move that directly undercuts the European Union's MiCA framework. The proposal follows the Bank of England's own backtracking on limits to the value of stablecoins an individual could hold, suggesting London is deliberately positioning itself as a lighter-touch jurisdiction for digital asset issuers compared to Brussels.

The regulatory divergence arrives as bitcoin itself wrestles with mounting market pressure. A $4.4 billion supply overhang has emerged on exchanges as institutional demand wanes, keeping BTC pinned below $60,000 for much of June. The Fear and Greed Index plunged to 12, a new absolute cycle low in sentiment, even as price managed to reclaim the $60,000 level briefly on June 29. Total crypto market cap sat near $2.12 trillion, with Solana leading large-cap recovery at +1.26% while Ethereum extended its position as the week's worst major-asset performer, down 10.55% over seven days.