Michael Saylor and team used cash to fund the debt repurchases while restructuring liabilities related to its BTC treasury strategy.
By James Van Straten|Edited by Sheldon Reback, Stephen AlpherUpdated May 26, 2026, 12:20 p.m. Published May 26, 2026, 12:19 p.m. 1 min readMake preferred on Strategy Executive Chairman Michael Saylor. (Nikhilesh De/CoinDesk))Key Details:
- Strategy completed the repurchase of $1.5 billion in 0% convertible senior notes due 2029 for $1.38 billion through private negotiations.
- This transaction has decreased the company's cash reserves to $871 million.
- MSTR shares increased by 1.9% in premarket trading, coinciding with a slight rise in bitcoin to $77,000.
Disclosure: The author of this article owns shares in Strategy (MSTR).
Strategy (MSTR), recognized as the largest corporate holder of bitcoin BTC$77,059.70, recently repurchased $1.5 billion of its 0% convertible senior notes due in 2029 for a total of $1.38 billion. This decision reflects a preference for debt reduction over expanding its bitcoin holdings, as stated in a filing released Tuesday.
To finance this repurchase, the company utilized its cash reserves, which have now been reduced to approximately $871 million following the transaction and associated capital activities.
Executive Chairman Michael Saylor mentioned this strategic move in a post on X, stating: “This week we bought bonds, not bitcoin. The ₿itVac is charging.”
This debt buyback indicates a departure from the company's previous strategy of accumulating bitcoin as it seeks to reorganize its liabilities related to its bitcoin treasury approach.
After the settlement, the company's total debt obligations decreased from $8.2 billion to $6.7 billion.
Currently, Strategy holds 843,738 BTC, acquired at an average price of $75,700 each, amounting to a cumulative investment of around $63.9 billion.
MSTR shares saw a 1.9% rise in pre-market trading, paralleling a modest increase in bitcoin's value back to $77,000 over the weekend.
Read More: Strategy to repurchase $1.5 billion of 2029 convertible bonds using cash or bitcoin sales
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