Strategy, a Tysons Corner-based software and Bitcoin Treasury firm formerly known as MicroStrategy, filed on Form 8-K on Friday announced plans to repurchase $1.5 billion of its convertible notes due 2029 — a major move that comes as the company’s favorite instrument, STRC, continues to attract investor interest.
The redemption announcement comes one day after STRC, the Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, recorded daily trading volume of $1.53 billion on Thursday, surpassing the previous record of $1.1 billion set on April 13.
CEO Michael Saylor confirmed the X’s performance, calling it “an all-time high” and describing the print as a sign of the organization’s growing confidence in the tool.
The cost of STRC they pay Investors with 11.5% annual profit without diluting the general strategy of equity and has grown about $8.5 billion in market capitalization since less than nine months ago, making it the world’s favorite stock and market cap.
Thursday’s trading activity can gradually allow Strategy to raise about $735.4 million through the on-the-market system combination – enough to buy about 9,066 Bitcoin at current prices.
The repurchase of the convertible bond adds another dimension to the Strategy’s efforts to restructure its balance sheet. The company has publicly stated its intention to convert about $6 billion in revolving loans over the next three to six years, with Saylor indicating that the company can withstand Bitcoin prices up to $8,000 before its assets and liabilities become liquidated.
The 2029 listings that are being looked at on Friday’s bookings represent one of the things the company needs to monitor as it makes this transition.
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Meanwhile, STRC and MSTR shareholders are also being asked to vote on a separate but related proposal: changing STRC’s share price from monthly to semi-monthly.
Voting on the amendment opened on April 28 and closed on June 8, with the first monthly payment expected on July 15 if approved. Saylor has made change as a way to “stabilize prices, reduce circulation, manage costs, and increase demand” – and ultimately position STRC as “the largest credit facility in the world.”
Strategy currently has 818,869 Bitcoin found for a total value of about $61.81 billion, or an average value of $75,537 per dollar. The company has acquired more than 101,000 Bitcoins since March alone, and more than 56,770 of those purchases took place after April, as it continues to generate revenue from its favorite apps and market at a rapid pace.
JPMorgan analysts have indicated that the Strategy’s total purchases of Bitcoin in 2026 could reach $30 billion.
