Strategy continues to strengthen its balance sheet by completing the acquisition of $1.5 billion in convertible bonds maturing in 2029 without selling any of its Bitcoin reserves. This move comes as Michael Saylor's company is becoming a prime example of a strategy using corporate debt to accumulate Bitcoin long-term.
According to the latest update, Strategy did not make any new Bitcoin purchases last week, instead focusing on resolving its previously announced bond debt obligations. After completing the buyback, the company's total outstanding bond debt across various maturities decreased sharply from $8.2 billion to approximately $6.7 billion.
To complete this acquisition, Strategy used approximately $1.38 billion in cash from its USD reserves. After the transaction, the remaining cash amounted to approximately $871 million. Notably, the company did not have to sell any BTC despite holding tens of billions of dollars worth of Bitcoin.
