Strategy taps cash reserve to retire $1.5 billion in convertible debt

Michael Saylor’s company funded the repurchases using cash as it restructures liabilities tied to its BTC treasury strategy. What to know : Strategy repurchased $1.5 billion of its 0% convertible senior notes due 2029 for $1.38 billion in privately negotiated transactions. Strategy used cash to buy the debt, which lowered the company's cash reserve to $871 million MSTR is higher by 1.9% premarket alongside a modest increase in the price of bitcoin back to $77,000.