4 days ago
9
Key Takeaways:
- Retired $1.5B in 2029 convertible notes for $1.38B in cash.
- Debt buyback funded through cash, MSTR equity and STRC preferred stock.
- Bought additional 24,869 BTC during the same period.
- Total holdings now 843,738 BTC, convertible debt down to $6.7B.
- Bondholders need MSTR at $672.40 by 2029, it trades at $159.
When Strategy filed with the SEC announcing it would repurchase $1.5 billion of its 2029 convertible notes, the immediate assumption across most crypto and finance circles was straightforward: a company sitting on a massive Bitcoin reserve, needing $1.38 billion in cash, would have to sell some of that Bitcoin to fund the transaction. The final numbers told a different story.
The press release covering the period May 11-25, 2026 confirmed that the debt repurchase itself was fu...
English (US)