What happened with Strategy’s Bitcoin holdings and debt?

Strategy retired $1.5 billion in convertible debt at an 8% discount and increased its Bitcoin holdings to 843,738 BTC. The company repurchased 0% Convertible Senior Notes due 2029 for about $1.38 billion in cash. It also bought 24,869 additional Bitcoin using proceeds from preferred stock and common stock sales.

Why does Strategy’s $1.5 billion debt repurchase matter for investors?

Strategy’s debt repurchase matters because it lowered total convertible note obligations from $8.2 billion to $6.7 billion. That reduces one part of the company’s balance-sheet burden while keeping its Bitcoin-heavy strategy intact. For investors, the key question is whether debt reduction can offset the risks of holding such a large Bitcoin position.

How much Bitcoin does Strategy own after the latest purchase?

Strategy now holds 843,738 BTC after buying an additional 24,869 BTC. The company also said its Bitcoin Per Share stands at 220,900 satoshis on an assumed diluted basis. This shows Strategy is still deeply tied to Bitcoin’s price movement.

What is Strategy’s year-to-date BTC Yield?

Strategy reported a year-to-date BTC Yield of 13.3%. It also recorded a year-to-date BTC Gain of 89,378 BTC and a BTC Dollar Gain of $6.8 billion. These are company-specific performance metrics used to track accretion from its Bitcoin-focused capital strategy.

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Strategy reduces debt while boosting Bitcoin stash

Q: How did Strategy fund its latest Bitcoin purchase?

Strategy funded the latest Bitcoin purchase through capital market transactions. The company issued $2.0 billion notional of Variable Rate Series A Perpetual Stretch Preferred Stock under the STRC ticker and raised $84 million through Class A common stock sales. It used those proceeds to buy more Bitcoin.

Written by Brie CarterPublished May. 26 2026Last Updated May. 26 2026

Strategy has retired $1.5 billion in convertible debt at a discount while increasing its Bitcoin holdings to 843,738 BTC.

The Tysons Corner, Virginia-based company said it repurchased the aggregate principal amount of its 0% Convertible Senior Notes due 2029 for about $1.38 billion in cash.

The transaction represented an 8% discount to the notes’ face value and reduced Strategy’s total convertible note obligations from $8.2 billion to $6.7 billion.

Strategy said the debt repurchase produced a BTC Gain of 4,391 BTC and a BTC Dollar Gain of $333 million as of 22 May 2026.

The company uses those figures to measure the accretion delivered to shareholders through its Bitcoin-focused capital strategy.

Strategy also issued $2.0 billion notional of Variable Rate Series A Perpetual Stretch Preferred Stock under the STRC ticker.

The company raised another $84 million through Class A common stock sales under its at-the-market offering programmes.

Strategy used the proceeds from those capital market transactions to buy an additional 24,869 BTC.

The latest purchase lifted the company’s total Bitcoin position to 843,738 BTC.

Strategy said its Bitcoin Per Share now stands at 220,900 satoshis on an assumed diluted basis.

The company’s USD Reserve, which it created in December 2025 to support preferred stock dividends and debt interest payments, now stands at $871 million.

Chief Financial Officer Andrew Kang said Strategy plans to rebuild the reserve over time through Digital Capital, Digital Credit, and Digital Equity sales.

Founder and Executive Chairman Michael Saylor said the transactions showed the company had several ways to manage capital during changing market conditions.

"These transactions demonstrate the optionality we have built into Strategy’s capital structure and our dynamic, multi-variate capital allocation model,"

Michael Saylor said.

President and CEO Phong Le linked the latest debt action to Strategy’s first-quarter 2026 earnings call, where the company said it would manage convertible debt and use available capital tools.

Le said the repurchase reflected the company’s earlier plan to consider a range of capital options, including selective Bitcoin sales when needed.

Strategy said it has achieved a year-to-date BTC Yield of 13.3%.

The company also reported a year-to-date BTC Gain of 89,378 BTC and a BTC Dollar Gain of $6.8 billion.

The transactions covered the period from 11 May to 25 May 2026 and used cash reserves built through earlier market activity.

Strategy said it still treats preferred stock distributions as a non-taxable return of capital for US federal income tax purposes.

The company added that it does not expect to generate accumulated earnings and profits this year or in the foreseeable future.

Strategy cautioned that its tax expectations could change depending on future circumstances.

At the time of reporting, Bitcoin price was $77,179.14.