Strategy introduced a "Digital Credit Capital Framework" on Monday detailing conditions under which the Bitcoin treasury firm could sell the digital asset moving forward, offering an updated look at how it plans to balance resources as its flagship preferred stock has come under pressure.

The firm’s board has approved a program allowing Strategy to sell as much as $1.25 billion in Bitcoin to fund its cash reserves, make payouts on products such as Stretch (STRC), or repurchase securities including common stock when deemed appropriate.

“Strategy remains committed to Bitcoin as its primary treasury reserve asset,” co-founder and Executive Chairman Michael Saylor said in a statement. “At the same time, Digital Credit requires liquidity, discipline, and active capital management.”

Saylor noted that the framework is intended to “strengthen credit quality” and enable Strategy to “reduce expected preferred stock dividend payments when accretive.”

Not long after the company’s announcement, Bitcoin changed hands around $59,800, down 0.5% over the past day, per CoinGecko data. Strategy’s shares advanced 5% during pre-market trading to $86.52, according to Yahoo Finance.

In the announcement, Strategy did not unveil a Bitcoin purchase, but rather noted that its so-called USD Reserve had been rebuilt to $2.25 billion. The company had set aside as much funds at the start of this year for managing dividends and debt.

Strategy indicated that, at its current level, the company’s cash stockpile can cover roughly a year-and-a-half worth of dividends.

This is a developing story and will be updated.

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