Bitcoin Giant Strategy Moves to Retire $1.5 Billion in Convertible Debt, Says It Could Sell BTC
The post Bitcoin Giant Strategy Moves to Retire $1.5 Billion in Convertible Debt, Says It Could Sell BTC appeared on BitcoinEthereumNews.com. In brief Strategy has entered into an agreement to repurchase $1.5 billion of its 2029 convertible senior notes for an estimated $1.38 billion The move marks the first major step in a multi-year push to “equitize” and pare down the firm’s massive $8.2 billion debt stack. To fund the repurchase of notes due in 2029, the company explicitly listed the “sale of Bitcoin” as an option in its filing. Strategy signaled on Friday that it’s taking major steps to pare down its convertible debt stack, entering into an agreement to repurchase $1.5 billion in notes due in 2029. The Bitcoin-buying firm said in a filing that it expects to pay roughly $1.38 billion to retire debt that the company took on to expand its crypto cache in November 2024, representing a significant chunk of $8.2 billion borrowed by the company in recent years. Co-founder and Executive C