Michael Saylor‘s Strategy Inc. (NASDAQ:MSTR) announced Friday it will repurchase $1.5 billion of convertible debt and listed Bitcoin (CRYPTO: BTC) sales as a potential funding source, sending prediction market odds on a 2026 Bitcoin sale to 92%.
The Polymarket contract was sitting near 23% as recently as late April.
The Filing
Strategy will pay roughly $1.38 billion in cash for $1.5 billion in principal of its 0% convertible notes due 2029, a discount to par. The deal was struck through privately negotiated transactions with certain noteholders, with settlement expected May 19.
Funding will come from cash reserves, proceeds from the company’s at-the-market equity program, “and/or proceeds from the sale of bitcoin,” according to …
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