Strategy Repurchases $1.5 Billion of Its Own Bonds

Strategy repurchased $1.5 billion of its 2029 bonds at an 8% discount.

Strategy has repurchased its own convertible bonds due in 2029 for $1.5 billion. The transaction was completed at a discount of approximately 8% to par.

Strategy has completed the repurchase of $1.5 billion of its 2029 Convertible Notes at an ~8% discount to par, generating an incremental 0.7% BTC Yield and lowering aggregate debt to $6.7 billion. $MSTR $STRC https://t.co/cbx4BlpsKV

— Michael Saylor (@saylor) May 26, 2026

As a result of this financial operation, the company’s total debt has been reduced to $6.7 billion. The yield on bitcoin assets per share increased by 0.7%. Since the beginning of the year, this indicator has reached 13.3%.

In the week ending May 25, Strategy did not purchase any cryptocurrency. The company holds 843,738 BTC on its balance sheet.

The total value of the accumulated digital assets is approximately $63.87 billion. The average purchase price of one bitcoin for the company over the entire period was about $75,700.

The company’s founder, Michael Saylor, noted that the flexible capital structure allows for balance sheet optimization depending on market conditions. The firm’s liquid reserve in US dollars currently amounts to $871 million, and management plans to replenish it in the future. 

Bitcoin Treasuries

Last week, small public companies acquired 602.6 BTC worth approximately $46 million: 

• Strive purchased 381.6 BTC;
• DDC Enterprise Limited — 200 BTC;
• The Smarter Web Company — 19 BTC;
• Hyperscale Data — 2 BTC.

The firms made these purchases when the price of bitcoin fell below $80,000. For instance, Strive acquired the asset at an average price of $79,348, while DDC paid $79,496. 

The activity of small businesses coincided with an outflow of funds from spot exchange-traded funds based on the leading cryptocurrency. Over six trading days, $1.54 billion was withdrawn from these instruments. Analysts at Santiment described this as a “counter-indicator,” noting that ETF investors’ behavior often reflects retail sentiment rather than “smart money.”

Currently, bitcoin treasuries include 198 public companies. They hold 1.24 million BTC — nearly 6% of the total market supply of the asset.

Back in May, SharpLink Gaming’s head Joseph Shalom criticized Strategy’s approach to managing crypto assets.