Strategy Inc. (NASDAQ:MSTR) completed a $1.5 billion debt repurchase last week, prompting gold advocate Peter Schiff to publicly question whether the company is running out of cash.
Strategy Bought Back Debt At 8% Discount, Added 24,869 Bitcoin
Strategy repurchased $1.5 billion of its 2029 convertible notes for approximately $1.38 billion in cash, an 8% discount to par value.
The transaction generated a Bitcoin (CRYPTO: BTC) gain of 4,391 coins and a dollar gain of $333 million, while lowering total convertible notes outstanding from $8.2 billion to $6.7 billion.
Alongside the debt repurchase, Strategy issued $2 billion of STRC preferred stock and $84 million of common stock, using those proceeds to purchase an additional 24,869 Bitcoin.
The company now holds 843,738 Bitcoin with a USD reserve of $871 million following …
