Johan on Nostr: This is actually quite smart. They raised $13.8 million through the issuance of ...
This is actually quite smart. They raised $13.8 million through the issuance of shares and used that as collateral.
If the trade succeeds → they keep the $13.8 million in USD and gain an additional 23.9 BTC.
If the trade doesn’t succeed → the price will be lower, and they will still have to buy the 223 BTC at $62,000. But they probably would have wanted the BTC at this price anyway, and now they’ve gained an extra 23.9 BTC.
Either way, they’re completely fine with the outcome.
@Saylor had a 35% premium on the CSN for his shareholders.
@DylanLeClair_ is getting a 40% premium (APY) for his shareholders.
Clash of the titans 🍿 I’m here for it!
If the trade succeeds → they keep the $13.8 million in USD and gain an additional 23.9 BTC.
If the trade doesn’t succeed → the price will be lower, and they will still have to buy the 223 BTC at $62,000. But they probably would have wanted the BTC at this price anyway, and now they’ve gained an extra 23.9 BTC.
Either way, they’re completely fine with the outcome.
@Saylor had a 35% premium on the CSN for his shareholders.
@DylanLeClair_ is getting a 40% premium (APY) for his shareholders.
Clash of the titans 🍿 I’m here for it!
quoting note1hnp…u55jMetaplanet writes 223 puts with a strike price of $62.000 and expiration date 27 december 2024. The proceeds of the trade are 23,9 BTC.
They basically betting that the price of bitcoin will be higher than $62.000 at the end of the year.
Game on 🔥
#bitcoin dylan (npub1pyp…c0qq)
