MSTR Reserve Questions Emerge, HYPE Benefits from Tokenized Equity Momentum (Portfolio Rebalance)
May 18, 2026
Strategy's BTC Purchases Came Despite Debt Repurchase: On Friday, I discussed Strategy's announcement that it would repurchase ~$1.5B in aggregate principal amount of its 2029 convertible notes for an estimated ~$1.38B cash repurchase price. At the time, I had assumed much of last week's STRC issuance proceeds would be directed toward retiring this debt rather than purchasing BTC. Today's disclosures revealed Strategy did, in fact, use the proceeds from last week's capital raises to purchase nearly 25k BTC. In to...
Finish reading this report for free
Enter your email and we'll send the paywall-free report directly to your inbox
Articles Read: 0/2
In addition to your unlocked report, you will receive our weekly market newsletter Fundstrat Snapshot, as well as occasional updates and offers from Fundstrat Direct. You can unsubscribe at any time.
Get unlimited access to Tom Lee's Fundstrat research
Subscribe
Already a member?
Log in