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Strategy cuts net leverage to near zero as cash matches convertible debt

The bitcoin treasury company says it has built preferred-dividend coverage over nearly four years while keeping repurchases of STRC below par.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Strategy, a bitcoin treasury company, has reduced its net leverage to near zero as its cash balance has grown to nearly match its convertible debt.

The outlet says Strategy also built nearly four years of preferred-dividend coverage, providing a buffer for its preferred dividend obligations.

CoinDesk adds that the company continued to repurchase STRC shares below par as it adjusted its capital structure.

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