Strategy taps cash reserve to retire $1.5 billion in convertible debt

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Strategy taps cash reserve to retire $1.5 billion in convertible debt Michael Saylor’s company funded the repurchases using cash as it restructures liabilities tied to its BTC treasury strategy. By James Van Straten | Edited by Sheldon Reback , Stephen Alpher May 26, 2026, 12:19 p.m. 1 min read Make preferred on Strategy Executive Chairman Michael Saylor. (Nikhilesh De/CoinDesk)) What to know : Strategy repurchased $1.5 billion of its 0% convertible senior notes due 2029 for $1.38 billion in privately negotiated transactions. Strategy used cash to buy the debt, which lowered the company's cash reserve to $871 million MSTR is higher by 1.9% premarket alongside a modest increase in the price of bitcoin back to $77,000. Disclosure: The author of this story owns shares in Strategy (MSTR). Strategy (MSTR), the world’s largest corporate holder of bitcoin BTC $ 77,166.67 , repurchased $1.5 billion of its 0% convertible senior notes due 2029 last week for $1.38 billion, opting to reduce debt rather than add to its bitcoin treasury, according to a filing released Tuesday . The company funded the repurchase using cash reserves, bringing those reserves down to about $871 million following the debt repurchase and related capital transactions. Executive Chairman Michael Saylor referenced the move on Sunday in a post on X, writing: “This week we bought bonds, not bitcoin. The ₿itVac is charging.” The repurchase marks a shift from the company’s usual bitcoin accumulation strategy as it looks to restructure liabilities tied to its bitcoin treasury model. Upon settlement, the purchase reduced the company’s outstanding debt obligations to $6.7 billion from $8.2 billion. Strategy holds 843,738 BTC acquired at an average price of $75,700 per coin, representing a total purchase cost of approximately $63.9 billion. MSTR shares rose 1.9% in pre-market trading alongside bitcoin's modest rise back to $77,000 over the weekend. Read More: Strategy to repurchase $1.5 billion of 2029 convertible bonds using cash or bitcoin sales Bitcoin News More For You StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens By Francisco Rodrigues | Edited by Jamie Crawley 55 minutes ago The breach, linked to a 1-of-3 multisig wallet weakness, allowed attackers to compromise a key and mint $13.5 million in unbacked tokens, netting them $2.8 million. What to know : StablR suspended USDR/EURR operations after a cyberattack. The tokens are now under-collateralized and don't meet the 1:1 backing required by MiCA. The breach, linked to a 1-of-3 multisig wallet weakness, allowed attackers to compromise a key and mint $13.5M in unbacked tokens, netting them $2.8 million. Following the breach, the... Read full story Latest Crypto News Spain joins growing list of countries shutting out Polymarket and Kalshi 14 minutes ago StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens 55 minutes ago Bitcoin ETFs crushed by billions in outflows as Treasuries stifle interest-rate cut hopes 1 hour ago Bitcoin risks another lower high as stocks rally, AI tokens outperform 1 hour ago Bitcoin caught between critical onchain support and an options showdown 3 hours ago XRP Ledger to delete NFT junk and patch key bugs in a new upgrade 3 hours ago Top Stories Ondo Finance founder Nathan Allman dies unexpectedly 6 hours ago At $322 billion, the stablecoin market value exceeds the FX reserves of 95 nations 6 hours ago Hyperliquid takes a swing at Polymarket with macro outcome bets 5 hours ago Buterin says Ethereum Foundation will shrink, sell less ETH, and focus on 'CROPS' 20 hours ago HYPE briefly overtakes Dogecoin, privacy tokens slide as US strikes on Iran rattle markets 7 hours ago Hyperliquid is emerging as a challenger to traditional exchanges and prediction markets, says FalconX May 25, 2026 In this article BTC BTC $ 77,166.67 ◢ 0.42 %