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

Strategy has reduced its net leverage to nearly zero, with the bitcoin treasury company holding cash that almost matches its outstanding convertible debt, CoinDesk reported on Aug. 26, 2026. The company has also accumulated nearly four years of coverage for preferred-stock dividends. Separately, Strategy continues to repurchase STRC shares below par. The update highlights changes in Strategy’s balance-sheet position and its ongoing activity in the preferred-stock market. Strategy is associated with bitcoin treasury operations, making the company relevant to market participants monitoring BTC-linked corporate exposure as well as STRC. The report did not provide additional figures for the cash balance, convertible debt, dividend coverage, or repurchases.