Great post. On how this all plays out, I’ve also been pondering a scenario 2b (for MSTR in particular) where BTC moons but the premium to NAV narrows closer to 1x. In that scenario even a BTC price of $250K would warrant only a small price appreciation from the current price, leaving the converts out of the money and MSTR looking for refi options.
Great post. On how this all plays out, I’ve also been pondering a scenario 2b (for MSTR in particular) where BTC moons but the premium to NAV narrows closer to 1x. In that scenario even a BTC price of $250K would warrant only a small price appreciation from the current price, leaving the converts out of the money and MSTR looking for refi options.
Great post. On how this all plays out, I’ve also been pondering a scenario 2b (for MSTR in particular) where BTC moons but the premium to NAV narrows closer to 1x. In that scenario even a BTC price of $250K would warrant only a small price appreciation from the current price, leaving the converts out of the money and MSTR looking for refi options.