Strategy launches $1.5B note buyback, STRC volume surges

– $1.5B convertible buyback aims to cut debt and optimize balance sheet
– Record STRC volume helps fund 11,700 Bitcoin purchase, reinforcing corporate crypto lead

On May 15, 2026, Cryptopolitan reported that Strategy (NASDAQ: MSTR) launched private agreements to repurchase approximately $1.5 billion in 0% convertible senior notes due 2029, targeting a reduction in corporate debt and a refreshed balance sheet. The buyback is scheduled to settle on May 19.

Strategy expects to pay about $1.38 billion for the notes, with the final cost dependent on the average price of MSTR shares during the pricing period ahead of settlement. Payment sources include cash reserves, capital raised from newly issued equity via its at-the-market program, proceeds from broader securities offerings, or potential Bitcoin sales. After settlement, the repurchased notes will be retired, leaving about $1.5 billion in principal value of the 2029 convertible notes outstanding.

Record trading volume in Stretch preferred stock (STRC) exceeded $1.53 billion. Strategy used funds raised—including from STRC issuance—for further Bitcoin acquisitions, adding approximately 11,700 BTC to its corporate holdings. STRC traded above its $100 par value ahead of its ex-dividend date, then declined to $98 (-1.7%) in pre-market trading. This activity underscores Strategy’s status as the largest public corporate Bitcoin holder and highlights ongoing treasury management leveraging preferred equity, convertible debt, and direct Bitcoin investment.

As of May 15, 2026, 15:09 UTC, Bitcoin (BTC) trades at $79,070.72, down -2.24% in the past 24 hours, according to CoinMarketCap.