Summary
- Strategy announced that it has accounted for 30% of the US convertible bond market this year, establishing itself as a major issuer.
- Recently, Strategy's stock price has rebounded thanks to the rise in Bitcoin prices, showing greater volatility, according to reports.
- Strategy, which aims to be included in the S&P 500 index, stated that Bitcoin prices would need to exceed $96,000 in the future for this to be highly possible.
Strategy (formerly MicroStrategy), which holds the most Bitcoin (BTC) among single companies worldwide, has been found to account for 30% of the US convertible bond market this year.
On the 6th, Strategy announced through its official X account, "Strategy has established itself as the largest issuer of convertible bonds in the US this year," adding that "it has accounted for 30% of the US convertible bond market so far this year." The company stated that "this was made possible by the power of Bitcoin." Strategy has issued $2 billion worth of convertible bonds this year.
Strategy's stock price has rebounded after hitting a low at the end of last month, boosted by the recent upward trend in Bitcoin prices. Regarding this, CoinDesk noted that "recently, Strategy's stock price has shown greater volatility than Bitcoin."
Meanwhile, Strategy is aiming to be included in the S&P 500 index. CoinDesk stated that "(for index inclusion) Bitcoin price would need to exceed at least $96,000 by the end of the first quarter of this year for it to be possible."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
