Strategy may sell Bitcoin to finance $1.5B convertible note repurchase
Crypto Briefing
MicroStrategy may utilize its Bitcoin reserves to help fund a $1.38 billion repurchase of its 2029 convertible notes.Summary
MicroStrategy has announced plans to repurchase $1.5 billion of its 2029 convertible notes for approximately $1.38 billion in a privately negotiated deal. To finance this operation, the company may tap into its significant Bitcoin reserves, which currently total 818,869 BTC. Executive Chairman Michael Saylor has outlined a capital strategy that allows for the use of Bitcoin holdings to meet financial obligations while maintaining long-term accumulation, supported by the issuance of STRC preferred stock. The company asserts that if Bitcoin appreciates above its 2.3% breakeven rate, it can fund dividends and obligations through Bitcoin sales without reducing its total holdings.
(Source：Crypto Briefing)