Strategy (formerly MicroStrategy), the largest corporate holder of Bitcoin, is considering selling some of its BTC holdings to finance a $1.5 billion debt repurchase program. The company revealed in an SEC filing that it may use a combination of existing cash reserves, proceeds from its "at-the-market" (ATM) offering program, and potential Bitcoin sales to complete the buyback of its 0% Convertible Senior Notes due in 2029. This move aims to retire a portion of the debt, with the repurchase expected to cost around $1.38 billion in cash.
The potential sale comes amidst Strategy's increasing Bitcoin treasury, which recently expanded with the purchase of 535 BTC for approximately $43 million at an average price of $80,340. As of May 2026, Strategy holds 818,869 BTC, acquired at an average price of $75,540 per Bitcoin. Executive Chairman Michael Saylor has framed the potential Bitcoin sales as a strategic capital structure optimization. The company's preferred stock, STRC, which carries an 11.25% dividend rate, necessitates substantial cash flows.
Meanwhile, in the decentralized finance (DeFi) space, Pepeto, a zero-fee DeFi exchange, is gaining attention. The project has raised over $9 million in its presale, attracting investors with its AI-driven contract scanner and cross-chain bridge. Pepeto combines utility with meme coin virality and is expected to launch on a Tier-1 exchange. The project's presale has seen rapid growth, with analysts noting that many wallets holding Pepeto typically only hold top 10 coins.
These developments illustrate the contrasting strategies within the crypto market. Strategy's potential Bitcoin sale reflects a move to manage debt and optimize capital structure, while Pepeto's successful presale highlights the ongoing interest in innovative DeFi projects. Investors are closely watching these trends as they navigate the evolving cryptocurrency landscape.
