Strategy to equitize convertible debt over 3-6 years: Saylor
The world’s largest DAT plans to convert $6 billion in bond debt to equity, claiming that it could survive an 88% Bitcoin crash.
Strategy founder Michael Saylor has revealed the firm plans to convert its $6 billion in bond debt into equity, a move that reduces debt on the balance sheet.
“Strategy can withstand a drawdown in BTC price to $8,000 and still have sufficient assets to fully cover our debt,” stated the firm on X on Sunday, prompting Saylor’s response.
The Bitcoin (BTC) treasury company currently holds $49 billion in Bitcoin reserves with a stash of 714,644 BTC.