Strategy (MSTR) could begin selling Bitcoin (BTC) to cover its debt repurchase program, the firm stated in a filing to the Securities and Exchange Commission (SEC) on Friday.
Strategy reveals plan to repurchase $1.5 billion senior convertible notes due 2029
The company shared plans to repurchase approximately $1.5 billion in principal amount of its 0% Convertible Senior Notes due 2029 through privately negotiated transactions.
Strategy expects to complete the buyback for roughly $1.38 billion in cash, allowing it to retire part of the debt. The company stated that it may use a combination of existing cash reserves, proceeds from its at-the-market (ATM) offering program and potential sales of Bitcoin holdings to finance the repurchase.
The…