Michael Saylor: Plans to Equity-ize $6 Billion in Convertible Debt Within 3 to 6 Years

Odaily News Michael Saylor, founder of MicroStrategy, revealed that the company plans to equity-ize its $6 billion in convertible debt within 3 to 6 years. The company stated in a post on platform X that even if the price of BTC falls to $8,000, MicroStrategy still has sufficient assets to fully cover its debt.

Currently, the company holds 714,644 BTC, with a reserve value of $49 billion, and its convertible debt is approximately $6 billion. MicroStrategy's average Bitcoin purchase price is around $76,000. Based on the current trading price of $68,400, the company's investment is currently at a loss of about 10%. Furthermore, Saylor posted MicroStrategy's accumulation chart on platform X on Sunday, hinting at another Bitcoin purchase, which would mark the company's 12th consecutive week of buying. (cointelegraph)