Strategy retires $1.5B debt using cash reserves

Strategy has repurchased $1.5 billion of its convertible senior notes due 2029 for $1.38 billion, utilizing cash reserves instead of its typical bitcoin accumulation strategy. This move reduces the company's outstanding debt obligations and lowers its cash reserve to approximately $871 million. The company, a major bitcoin holder, is restructuring liabilities tied to its bitcoin treasury model. This strategic shift comes as bitcoin prices hover around $77,000, with Strategy shares seeing a modest pre-market increase.