Strategy Just Bought Back $1.5 Billion of Its Own Debt Using Bitcoin Profits This is what a #Bitcoin treasury strategy looks like when it actually works. #Strategy just repurchased $1.5 billion worth of convertible notes that weren't due until 2029. They paid $1.4 billion for debt worth $1.5 billion face value. That's a $100 million gain right there. The company has been buying Bitcoin aggressively and now they're using those gains to clean up their balance sheet early. Most companies issue debt and pray they can pay it back later. Strategy is retiring debt five years early because their Bitcoin bet paid off. This is Michael Saylor's playbook in action. Cheap debt, buy Bitcoin, use profits to strengthen the company. The convertible notes had a 0.8% interest rate, which is basically free money. But Strategy decided they'd rather own their balance sheet outright than wait until 2029.