Strategyissuance bought more than 20,000 BTC in $2 billion convertible bonds

Strategy (, formerly known as Micro Strategy ), announced the completion of a 2 billion convertible bond issuance, and will use all proceeds to buy BTC. Strategy then purchased 20,356 BTC with an average cost of 97,514 per BTC. As of February 23, 2025, Strategy holds a total of 499,096 BTC, spending a total of 33.1 billion US dollars, with an average cost of 66,357 per BTC.

Strategy completed 20 billion interest-free convertible bond issuance

The Strategy has completed the issuance of 2 billion US dollars of convertible senior notes due in 2030, with the following terms:

Expiration date: March 1, 2030

Coupon rate: 0%

Conversion price: $433.43 ( premium about 35%)

Put Option: Under certain conditions, investors can sell the notes at the original price (100) after 2028/3/1.

Forced Redemption "Soft Call": Under certain conditions, Strategy can redeem early at the original price of (100) after 3/5/2027

(MicroStrategy issuance convertible bonds, low interest rates and high stock conversion prices, what is the operating principle?)

Strategy buy another 20,356 BTC, holding a total of 499,096 BTC

Strategy After the fundraising is completed, all the proceeds will be used to buy BTC.

Strategy spent $1.99 billion on 20,356 BTC, at an average cost of 97,514 BTC per BTC. YTD 2025 yields 6.9%. As of February 23, 2025, Strategy held a total of 499,096 BTC at a total cost of $33.1 billion, at an average cost of 66,357 per BTC.

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