Strategy™ Announces $2 Billion Convertible Notes Offering to Fuel Bitcoin Accumulation
TYSONS CORNER, Va., February 18, 2025 — Strategy™ (Nasdaq: MSTR) is making another bold financial move. The company has announced plans to issue $2 billion in 0% convertible senior notes due 2030 in a private sale to qualified institutional buyers under Rule 144A of the Securities Act. Additionally, Strategy has granted initial purchasers the option to buy an extra $300 million in notes, subject to market conditions.
💡 Why It Matters:
Senior convertible notes are a hybrid between debt and equity, offering noteholders priority over common stockholders in case of bankruptcy or liquidation.
These notes are a key piece of Strategy’s 21/21 Plan, a bold $42 billion capital strategy split between equity and fixed-income securities to accumulate more Bitcoin.
The plan, spearheaded by Executive Chairman and co-founder Michael Saylor, has already crossed the halfway mark since its announcement on Oct. 30.
📈 Bitcoin Stash Update:
Since launching the 21/21 Plan, Strategy has aggressively increased its Bitcoin holdings, purchasing nearly 200,000 BTC in just a few months. This latest move pushes Strategy’s total Bitcoin holdings to 478,740 BTC, solidifying its status as the world’s largest corporate Bitcoin holder, per BitBo’s BitcoinTreasuries.NET.
🔥 Who’s Buying These Notes?
Institutional investors, hedge funds, and other sophisticated market participants who see value in Strategy’s aggressive Bitcoin strategy could be the primary buyers. Convertible notes offer potential upside in the form of conversion to equity while maintaining downside protection as senior debt, making them attractive to investors bullish on both Strategy and Bitcoin.
💰 Key Deal Terms:
0% Interest. No accretion.
Maturity: March 1, 2030.
Convertible into cash, Strategy stock, or a mix—at the company’s discretion.
Early redemption possible starting March 5, 2027, but only if Strategy’s stock price exceeds 130% of the conversion price.
🚀 What’s Next?
With over half of its $42 billion capital plan already deployed, Strategy is showing no signs of slowing down. Expect more aggressive Bitcoin acquisitions and market-shaping moves in the coming months.