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33 sats \ 1 reply \ @Diego 7h \ on: Who Are the Companies Hoarding Bitcoin? (Financial Times, Philip Stafford) econ
I don’t really get the loan structure that Strategy is using i.e convertible notes etc. but my understanding is that none of their loans are callable against their btc? Do all these treasury companies use the same playbook? Will they have to puke up all their btc in the next bear market?
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0 sats \ 0 replies \ @denlillaapan OP 6h
Possibly. You're right that there's nuance and that their debts/interest payments aren't directly tied to BTC... but it's the only asset of note that they have, so selling it or refinancing it is the only play they have
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