Strategy Repurchases Debt, Expands Bitcoin Holdings

MT Newswires Live
05/26

Strategy (MSTR) completed a series of financing and bitcoin transactions between May 11 and May 25, including the repurchase of $1.5 billion of convertible notes due 2029 at a discount, the company said Tuesday.

The company repurchased the notes for about $1.38 billion in cash, reducing total convertible debt outstanding to $6.7 billion, and raised capital through preferred stock and common stock sales, using part of the proceeds to buy 24,869 bitcoins, it said.

As of May 25, Strategy said it held 843,738 bitcoins and had a US dollar reserve of $871 million.

The company said it plans to rebuild the reserve over time, depending on market conditions.

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