Strategy introduces authorization framework for selling Bitcoin, only three types of scenarios can sell Bitcoin Odaily Planet Daily News: Strategy has officially released the "Digital Credit Capital Framework", launched a Bitcoin monetization authorization mechanism, and simultaneously set up a share repurchase plan with a maximum limit of $1 billion. The company's board of directors has designated three types of compliant Bitcoin sales scenarios: firstly, to replenish US dollar reserves, with a maximum increase of $1.25 billion in cash, and the current US dollar reserves are approximately $2.555 billion; Secondly, when it is more cost-effective to raise funds through issuing new shares, selling BTC to redeem preferred stock dividends and interest; The third is to allocate funds for the repurchase plan of common and preferred stocks, covering transaction taxes and fees. Selling Bitcoin beyond the above-mentioned purposes and limits requires additional approval from the board of directors; This framework has no fixed term, no mandatory coin selling requirements, and the company can adjust or suspend it at any time. Industry interpretation points out that this plan belongs to the bear market liquidity management toolbox, used to deal with issues such as dividend payouts and stock price pressures. It is only a short-term flexible adjustment tool, and the core strategy of Strategy, which involves long-term hoarding of coins and using financial instruments to amplify Bitcoin exposure, has not changed.