Strategy retired $1.5B in 2029 convertible notes at an 8% discount and now holds 843,738 BTC with 13.3% BTC Yield YTD.

How did Michael Saylor's firm amass a record stash of Bitcoin? Here's a look back at how Strategy made such massive gains.

Strategy has bought 171,238 BTC in 2026, nearly triple global miner output. The company now holds 843,738 BTC worth $63.9B, raising market concentration concerns.

Strategy repurchased $1.5B of 2029 convertible notes below par without touching its 843,738 Bitcoin reserves.

Michael Saylor and team funded the repurchases using cash as it restructures liabilities tied to its BTC treasury strategy.

Strategy used 61% of its dedicated cash buffer to repurchase $1.5 billion in convertible notes, leaving its Bitcoin stash untouched.

Strategy retired $1.5B in 2029 convertible notes at an 8% discount and now holds 843,738 BTC with 13.3% BTC Yield YTD.

Strategy retired $1.5 billion in convertible debt at an 8% discount, bringing its holdings to 843,738 BTC as it actively rebalances its capital structure.

Strategy lost over $690M in Bitcoin value as BTC fell below $75K. Michael Saylor's firm remains the largest corporate BTC holder, doubling down on accumulation.