The company associated with Michael Saylor said the transaction reduced total convertible debt to $6.7 billion while leaving it with 843,738 Bitcoin and $871 million in U.S. dollar reserves.
Strategy, the company associated with Michael Saylor, has completed a $1.5 billion convertible note repurchase at an 8% discount, according to the provided statement. The move reduced the company’s total convertible debt from $8.2 billion to $6.7 billion. The update also said Strategy holds 843,738 Bitcoin and $871 million in U.S. dollar reserves. A convertible note is debt that can later be converted into equity, and repurchasing it below face value can lower liabilities while preserving balance-sheet flexibility for a company with large Bitcoin exposure.