<div id="readability-page-1"><div>Bitcoin treasury company Strategy announced on Friday that it will repurchase $1.5 billion in 0% convertible notes, due in 2029, retiring about half of the 2029 convertible note tranche’s total outstanding debt.Strategy entered into “privately negotiated transactions” with a portion of its 0% senior convertible note holders on Thursday, agreeing to repurchase the debt for an estimated $1.38 billion, according to the company’s Securities and Exchange Commission (SEC) filing.The transaction is set to settle on Tuesday of the week following the publication of this article, the company said, adding that the final repurchase amount could “vary” from the estimated amount based on market conditions. The company added:“Strategy expects to fund the repurchases with available cash reserves, proceeds from sales of securities under its at-the-market offering program, and/or proceeds from the sale of bitcoin.” <figure></figure>Strategy's SEC filing documenting the 2029 convertible note repurchase. Source: StrategyThe move follows comments made by Strategy co-founder Michael Saylor in May 2026, signaling that the company could sell a portion of its Bitcoin holdings to fund dividend payments, and earlier comments in February that the company plans to equitize its debt in the coming years.Strategy plans to swap its convertible debt for equity over the next 3-6 years Strategy plans on equitizing its convertible debt over the next 3-6 years, gradually turning holders of its credit instruments into equity holders.This would reduce the debt burden on the company, but would also dilute existing stockholder value by adding new equity shares.<figure></figure>Source: Michael SaylorStrategy has about $8.2 billion in total outstanding debt at the time of publication, according to data from the company, and has funded its BTC buys in 2026 primarily through its Stretch Perpetual Preferred Stock (STRC).On Thursday, STRC hit $1.5 billion in daily trading volume, setting a new record for the equity instrument, and signaling strong investor interest.The company’s most recent Bitcoin purchase occurred on Monday, when it bought 535 Bitcoin for $43 million, bringing its total Bitcoin holdings to 818,869 coins, valued at about $64 billion, using BTC’s spot market price at the time of publication.</div></div>

STRD

GBTC

MSTR

Strategy，一家比特幣財庫公司，宣佈計劃回購價值 15 億美元的 2029 年到期的 0% 可轉換債券，約佔總未償債務的一半。此次回購預計為 13.8 億美元，將通過現金儲備和證券或比特幣的銷售來融資。該公司計劃在未來 3-6 年內將其可轉換債務股權化，這可能會稀釋現有股東的價值。Strategy 目前總未償債務約為 82 億美元，並持有價值約 640 億美元的比特幣

Strategy to repurchase $1.5B of 2029 convertible notes

- Strategy 公司宣佈以 15 億美元回購 2029 年到期的 0% 可轉債。  
- 交易預計將於下週二結算，回購金額可能會根據市場條件變化。  
- 該公司計劃在未來 3-6 年將可轉債轉換為股權，以減輕債務負擔。

關於回購 15 億美元 2029 年到期可轉換債券的策略