Strategy, the world's largest Bitcoin treasury company, agreed on May 15 to repurchase roughly $1.5 billion principal amount of its 2029 convertible notes for an estimated $1.38 billion in cash. The firm may fund the transaction through cash reserves, ATM equity sales, or Bitcoin proceeds.
The company plans to cancel the repurchased notes, which would leave about $1.5 billion of the 2029 notes outstanding. Strategy disclosed the details in a Form 8-K filing and noted that Bitcoin could serve as one funding source for the repurchase and future obligations.
