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xur17
on Dec 14, 2020
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MicroStrategy's Bitcoin Debt Bet
It looks like Microstrategy's gets to decide whether to convert or to pay back in stock though - it seems like they would only chose to convert if the stock price was below their conversion rate, in which case the purchaser would lose?
vmception
on Dec 14, 2020
[–]
Nice one, nice catch! I haven't read the covenants of the bond. Just getting a trickle of information from various articles.
Credit markets are more fascinating than people think, especially on leverage.
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