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Strategy repurchases $1.5 billion in 2029 convertible notes, keeps Bitcoin treasury intact
Strategy announced Tuesday it has repurchased $1.5 billion in aggregate principal of its 0% Convertible Senior Notes due 2029 for approximately $1.38 billion in cash, reflecting an 8% discount to par. The transaction contributed a Bitcoin (BTC) yield of 0.7%, alongside a BTC gain of 4,391 BTC and a BTC-dollar gain of $333 million. Following the buyback, Strategy reduced its outstanding convertible notes from $8.2 billion to $6.7 billion. The repurchase was funded using existing cash reserves, supplemented by proceeds from at-the-market (ATM) sales of its Class A common stock (MSTR) and preferred securities (STRC). ... (full story)