Strategy’s latest move is more than another BTC purchase – Here’s why!

Strategy is trying to help its balance sheet without stepping away from its Bitcoin strategy.

The company recently repurchased $1.5 billion worth of 2029 notes for about $1.38 billion in cash, buying back the debt at nearly an 8% discount. This reduced its outstanding convertible notes from $8.2 billion to $6.7 billion.

At the same time, they raised capital through preferred stock and common stock issuances, using the proceeds to buy 24,869 BTC. The debt move also helped generate a BTC yield of 0.7%, equal to a gain of 4,391 Bitcoin (worth about $333 million).

They also reported a YTD Bitcoin yield of 13.3%, with gains reaching 89,378 BTC.

Corporate Bitcoin demand speeds up

Here, what’s worth noting is that the company did not add more BTC last week.

In fact, recent data stated that even BitMine made no new Ethereum [ETH] purchases over the same period.

However, four other public companies still bought a combined 612 BTC, worth about $47.5 million.

Strive, The Smarter Web Company PLC, DDC Enterprise Limited, and Hyperscale Data together held 21,525 BTC as of 15 May – Valued at around $1.67 billion.