Strategy's $1.4B cash burn 🔥

The Bitcoin treasury firm used 61% of its dedicated cash buffer to repurchase $1.5 billion in debt, leaving its BTC holdings untouched.

Author

Stephen Graves
May 26, 2026

đź“ť What you need to know

Bitcoin treasury firm Strategy burned through a big chunk of its cash reserves to extinguish debt last week, drawing down on $1.38 billion, or 61% of its $2.25 billion cash reserve. The move left the firm’s Bitcoin reserve untouched, despite earlier signals that it might sell the digital asset for the first time in years to help manage its massive debt burden.

The firm “remains committed to maintaining a robust cash reserve,” Strategy CFO Andrew Kang said, while the move gave a bump to Strategy’s share price. On Myriad, a prediction market operated by Decrypt’s parent company Dastan, traders revised their view on whether Strategy would sell BTC this year, down from a high of 85% a week ago to 71% now—though it remains well up from the 12% outcome they expected a month ago.

Bitcoin Giant Strategy Slashes Cash Reserves by 61% to Repurchase $1.5 Billion in Debt

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

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