MicroStrategy Spends Nearly 70% of Its Cash Reserve to Clear Massive Debt

MicroStrategy spent $1.38 billion from its cash reserve to repurchase $1.5 billion of zero-coupon convertible notes due 2029, settling the debt at an 8% discount to par.

The buyback consumed most of the company’s roughly $2 billion USD Reserve, leaving $871 million on hand. Bitcoin purchases were paused for the week as the balance sheet was restructured.

Cash Reserve Drained for Discount…