Strategy Announces $1.5B Note Buyback; Possible Bitcoin Sales in Funding Mix

According to an 8-K filing on May 15, Strategy Inc. announced plans to repurchase about $1.5 billion in principal amount of its 2029 convertible notes for an estimated $1.38 billion in cash, with settlement expected around May 19. Funding sources may include cash reserves, equity sales, or Bitcoin sales—a possibility that drew market attention given Strategy's status as the world's largest listed corporate Bitcoin holder.

MSTR shares fell 5.27% to $177.11 on Friday following the disclosure. The company currently holds 818,869 BTC, valued at over $65 billion at recent market prices, and has indicated it may use selective Bitcoin sales to support its capital strategy while remaining a net buyer over time.