Warning: The analyst who wrote this piece has strategy shares (MSTR).
The strategy (MSTR), formerly Microstrategy, is the largest American convertible bond transmitter in 2025, according to their recent article on X.
“The strategy is again the largest bond transmitter convertible in 2025. The year to date, we represent 30% of the American convertible market, powered by Bitcoin”.
Since the start of the year, the company has issued $ 2 billion in convertible bonds. For the context, the total American convertible debt market currently amounts to around $ 280 billion, according to a BTC_Overflow post X.
In the strategy position, it shows its six debt offers convertible into circulation with a total notional value of $ 8.2 billion. These convertible bonds have an average weighted maturity of 5.1 years and a coupon rate of 0.421%.
The actions of the strategy have been even more volatile than the Bitcoin price (BTC) in recent times. The action rebounded about 30% compared to its stockings of February 28, but had previously decreased up to 58% compared to its summits.
Since the adoption of its Bitcoin Treasury Strategy (BTC) in August 2020, the company has experienced eight shots of more than 30%, the most recent being the fifth largest.
The strategy is still aims to include potential inclusion in the S&P 500, with a bitcoin price of at least $ 96,000 necessary at the end of the first quarter to have a chance of eligibility.
