Strategy Inc. (NASDAQ:MSTR) completed a $1.5 billion debt repurchase last week, prompting gold advocate Peter Schiff to publicly question whether the company is running out of cash.
The transaction generated a Bitcoin (CRYPTO: BTC) gain of 4,391 coins and a dollar gain of $333 million, while lowering total convertible notes outstanding from $8.2 billion to $6.7 billion.
Alongside the debt repurchase, Strategy issued $2 billion of STRC preferred stock and $84 million of common stock, using those proceeds to purchase an additional 24,869 Bitcoin.
The company now holds 843,738 Bitcoin with a USD reserve of $871 million following the transactions.
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