Discharge of responsibility: The analyst who wrote this piece has Strategy (MST) actions.
Strategy (Mstr), previously Microstrategy, is the largest issuer of convertible bonds in the USA. In 2025, according to its recent position in X.
“The strategy is the largest convertible bond issuer again in 2025. Year to date, we represent 30% of the US convertible market, driven by Bitcoin.”
At present, the company has issued $ 2 billion in convertible bonds. For the context, the total convertible debt market. UU. It is currently approximately $ 280 billion, according to an X publication of BTC_Overflow.
In the publication of the strategy, it shows its six convertible debt offers pending with a total notional value of $ 8.2 billion. These convertible links have an average weighted maturity of 5.1 years and a coupon rate of 0.421%.
Strategy actions have been even more volatile than the price of Bitcoin (BTC) in recent times. The action has recovered approximately 30% of its minimum of February 28, but had previously decreased to 58% from its maximums.
Since he adopted his Bitcoin Treasury strategy (BTC) in August 2020, the company has experienced eight reductions of more than 30%, being the most recent the fifth largest.
The strategy continues to point to a possible inclusion in the S&P 500, with a bitcoin price of at least $ 96,000 necessary for the end of the first quarter to have the opportunity for eligibility.
