Digital Credit Market Hits $16 Billion: Can Strategy Scale Up?

Digital Credit Market Hits $16 Billion: Can Strategy Scale Up?

Strategy Inc. MSTR is strengthening its position in the emerging digital-credit market, leveraging its substantial Bitcoin holdings to develop preferred securities for income-oriented investors. The digital-credit market reached approximately $16 billion in outstanding notional value as of Oct. 23, 2026, with Strategy accounting for nearly 84% or $13 billion. Its expanding product portfolio and growing institutional participation could create opportunities for further growth.

Strategy's digital-credit business comprises preferred securities offering different dividend rates, payment structures and risk characteristics. These products provide investors with exposure to the company's capital structure without requiring direct investment in MSTR common stock. The market has expanded rapidly, reaching approximately $16 billion in just 20 months, with six issuers and 10 publicly listed securities as of October 2026.

The company's capital structure revolves around three components: Bitcoin as digital capital, preferred securities as digital credit and MSTR common stock as digital equity. Through this model, Strategy aims to r...