Michael Saylor · Strategy · Bitcoin · Bitcoin Magazine
Strategy (MSTR) Files to Repurchase $1.5 billion in 2029 Convertible Notes as STRC Hits Record $1.53 billion Daily Volume
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Strategy said Friday it plans to repurchase $1.5 billion in 2029 convertible notes as investor demand for its STRC preferred stock continues to surge.
Key facts
- The repurchase announcement arrives one day after STRC, Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, recorded an all-time high daily trading volume of $1.53 billion
- Strategy currently holds 818,869 Bitcoin acquired at a total cost of approximately $61.81 billion, or an average price of $75,537 per coin
- Strategy said Friday it plans to repurchase $1.5 billion in 2029 convertible notes as investor demand for its STRC preferred stock continues to surge
- Voting on the amendment opened on April 28 and closes June 8, with the first semi-monthly payment expected on July 15 if approved
Summary
Strategy, the Tysons Corner-based software and Bitcoin treasury firm formerly known as MicroStrategy, filed a Form 8-K on Friday announcing plans to repurchase $1.5 billion of its convertible notes due 2029, a significant balance sheet move that comes as the company’s preferred stock instrument, STRC, continues to attract record investor demand. The repurchase announcement arrives one day after STRC, Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, recorded an all-time high daily trading volume of $1.53 billion on Thursday, surpassing the prior record of $1.1 billion set on April 13. Executive Chairman Michael Saylor confirmed the milestone on X, calling it “all-time high volume” and describing the print as a signal of growing institutional confidence in the instrument.