MicroStrategy retires $1.5B of 2029 convertible notes with cash and equity, adds 24,869 BTC to treasury

Strategy completed a repurchase of roughly $1.5 billion of its 2029 convertible notes for about $1.38 billion in cash, lowering outstanding convertible debt to about $6.7 billion; the company said the buyback was funded through cash, MicroStrategy (MSTR) equity and Strategy’s STRC preferred stock ^{[1] [2] [3]}.

The company bought an additional 24,869 BTC during the same period, bringing its reported total holdings to 843,738 BTC, according to filings and coverage of the transaction ^{[1] [2]}.

Market reaction included a pre-market surge in MSTR shares, and coverage noted bitcoin-related yield metrics (13.3% YTD in 2026) in the context of the debt reduction; separate reports also said Michael Saylor paused further bitcoin purchases while the balance sheet was restructured ^{[4] [5] [6]}.

By using cash and equity instruments to retire $1.5 billion of convertible notes, Strategy reduced leverage while maintaining and expanding its bitcoin holdings, per the company's disclosures and market reporting ^{[1] [3]}.