Strategy, has stopped buying bitcoin for now. Instead, the company is focusing on reducing its debt. Executive chairman Michael Saylor said the company spent this week buying back bonds instead of purchasing more bitcoin.

In a post on X on May 24, Saylor wrote: “This week we bought bonds, not bitcoin. The ₿itVac is charging.” The comment quickly attracted attention because Strategy is known for buying large amounts of bitcoin on a regular basis.

Strategy currently owns 843,738 BTC worth more than $64 billion. The company is one of the largest corporate holders of bitcoin in the world.

For several years, Strategy has used debt and stock sales to raise money for bitcoin purchases. But this week, the company changed direction and used its money to repurchase about $1.5 billion worth of its own convertible bonds.

These bonds are 0% convertible senior notes that are due in 2029. Strategy plans to buy back around $1.5 billion in debt for about $1.38 billion in cash. This allows the company to reduce its future financial obligations while saving about $120 million.

The company said it could use cash reserves, stock sales, or even bitcoin sales to complete the deal if necessary. However, there is no sign that Strategy has sold any bitcoin so far.

Many analysts believe this move is about improving the company’s finances, not abandoning bitcoin. They see it as a temporary pause rather than a major change in Strategy’s long-term plans.

Strategy’s most recent bitcoin purchase was announced on May 18. The company bought 24,869 BTC for about $2.01 billion at an average price of roughly $80,985 per coin. That purchase increased its total holdings to 843,738 bitcoin.

The term “BitVac” is Saylor’s nickname for Strategy’s bitcoin-buying system. The name combines the words Bitcoin and vacuum, suggesting the company absorbs large amounts of bitcoin from the market.

When Saylor said the “BitVac is charging,” he apparently meant that the company is preparing for future bitcoin purchases.

Some reports described the bond buyback as a positive move for both Strategy and its shareholders. By reducing debt, the company may lower financial risks and gain more flexibility to raise money again in the future.

Strategy’s financial structure has become more complicated over time. Along with its bitcoin holdings, the company also manages billions of dollars in debt, preferred shares, and cash reserves.

Recent company data showed that Strategy has about $2.25 billion in cash reserves, $8.254 billion in debt, and more than $15 billion in preferred stock obligations. The company also faces annual dividend payments of about $1.7 billion.

Michael Saylor has continued defending the company’s strategy. In a recent interview, he said it was “not unlikely” that Strategy could sell some bitcoin before the end of 2026 if needed as part of its financial planning.

Saylor also said that relying only on debt, stock sales, or bitcoin alone is not the best approach. Instead, he believes a flexible financial strategy gives the company more strength.

He added that any future bitcoin sales would likely be small compared to the huge amount of BTC traded every day in global markets.

Strategy CEO Phong Le also reminded investors that the company is more than just a bitcoin holder. He said, “Strategy’s success is rooted in more than bitcoin on our balance sheet. It is built on a scaled enterprise software company.”