Key Takeaways:
Strategy retired $1.5B of 2029 convertible notes for $1.38B cash, an 8% discount to par, on Tuesday.The debt buyback added 4,391 BTC in gains, bringing Strategy’s total holdings to 843,738 bitcoin.Strategy plans to rebuild its $871M USD Reserve through future Digital Capital and equity sales.“These transactions demonstrate the optionality we have built into Strategy’s capital structure and our dynamic, multi-variate capital allocation model,” the company’s founder wrote.
The transactions covered the period May 11 through May 25, 2026, and drew on cash reserves accumulated through prior capital markets activity.
