Strategy Targets $1.5B Note Buyback as Bitcoin Sinks Below $78K
The post Strategy Targets $1.5B Note Buyback as Bitcoin Sinks Below $78K appeared on BitcoinEthereumNews.com. Bitcoin News Strategy, the largest corporate Bitcoin treasury holder, said on Friday that it will repurchase roughly $1.5 billion of its zero-coupon 2029 convertible notes, retiring about half of that tranche’s outstanding debt. According to a fresh filing with the Securities and Exchange Commission, the company entered into privately negotiated transactions with select noteholders, agreeing to buy back the paper for an estimated $1.38 billion. Strategy said it expects to fund the repurchases through existing cash reserves, proceeds from its at-the-market equity offering, or selective Bitcoin sales. The settlement is scheduled for the week after publication, though the firm cautioned the final figure could shift with market conditions. The buyback dovetails with co-founder Michael Saylor’s broader plan to equitize most of the convertible debt stack over the next three to six ye