krisadams on Nostr: @preston - thoughts? My gut says @saylor is going to build in a conversion price on ...
@preston - thoughts?
My gut says @saylor is going to build in a conversion price on the $600M bonds at a good bit above todays price so that the holders are all incentivised to convert to shares when it’s eclipsed, wiping out his need to pay the bond coupons later down the line, but meaning he doesn’t have to create as many shares today for same number of bitcoin.
In short, I think he’s raising $600M+ at around $1500-1800 a share today, even though his company isn’t trading there, to maximise BTC per share.
Am I missing something?
My gut says @saylor is going to build in a conversion price on the $600M bonds at a good bit above todays price so that the holders are all incentivised to convert to shares when it’s eclipsed, wiping out his need to pay the bond coupons later down the line, but meaning he doesn’t have to create as many shares today for same number of bitcoin.
In short, I think he’s raising $600M+ at around $1500-1800 a share today, even though his company isn’t trading there, to maximise BTC per share.
Am I missing something?