Strategy Pauses Bitcoin Buying as $1.5B Bond Repurchase Takes Priority

CryptoProwl

Mon, May 25, 2026 astatine 9:17 AM CDT 2 min read

Strategy Inc. (NASDAQ: $MSTR) broke from its accustomed bitcoin-buying bushed this week, with Michael Saylor saying the institution bought bonds alternatively of bitcoin arsenic it works done a ample convertible-note repurchase.

Saylor posted Sunday that “This week we bought bonds, not bitcoin,” adding that the “BitVac is charging.” The enactment arrived aft investors had been watching for different acquisition awesome from Strategy, whose play bitcoin disclosures person go a regular marketplace marker for treasury-style accumulation.

This week’s absorption sits connected the liability broadside of the equilibrium sheet. Strategy agreed earlier this period to repurchase astir $1.50 cardinal of its 0% Convertible Senior Notes owed 2029 for an estimated $1.38 cardinal successful cash. The institution said the last currency terms whitethorn alteration based partially connected its banal terms during the measurement period.

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Strategy said the repurchase whitethorn beryllium funded done disposable currency reserves, proceeds from at-the-market securities income and, if needed, bitcoin sales. That connection has drawn attraction due to the fact that Saylor has besides acknowledged that constricted bitcoin income earlier the extremity of 2026 are not improbable nether a much flexible superior allocation model.

The institution is not walking distant from its bitcoin thesis. Strategy disclosed past week that it bought 24,869 BTC for astir $2.01 billion, lifting its full holdings to 843,738 BTC acquired for astir $63.9 billion. At existent bitcoin prices, that stack is worthy much than $65 billion.

The indebtedness repurchase adds a antithetic furniture to the trade. Retiring portion of the 2029 convertible-note stack astatine a discount could trim aboriginal dilution pressure, portion giving Strategy much country to support utilizing equity, preferred shares, indebtedness and bitcoin arsenic backing tools.

The adjacent public-market awesome is whether the enslaved cleanup becomes a one-week intermission oregon the commencement of a much progressive balance-sheet reset.

Strategy Inc. (NASDAQ: MSTR) banal is presently trading astatine $159.89 U.S. per share. Bitcoin (CRYPTO: $BTC) is trading astatine $77,242 U.S. per integer token.