Bitcoin Giant Strategy Slashes Cash Reserves by 61% to Repurchase $1.5 Billion in Debt – Decrypt
In brief Strategy used 61% of its dedicated cash buffer ($1.38 billion) to repurchase $1.5 billion in convertible notes. Despite earlier corporate signals, the firm’s entire stash of 843,738 Bitcoin remained untouched during the debt repurchase. Although Bitcoin’s price has fallen roughly 12% year-to-date, the Bitcoin buying firm’s common shares have advanced 8.8% since January....
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