For those that don’t know, the point of the bitcoin holding strategy of MSTR is that they sell convertible notes to buy bitcoin, which is essentially a put agai

For those that don’t know, the point of the bitcoin holding strategy of MSTR is that they sell convertible notes to buy bitcoin, which is essentially a put against the US dollar (they’re making a profit from the US dollar losing value over time due to inflation, assuming bitcoin rises against it). The convertible notes can be purchased by institutional investors that aren’t allowed to buy bitcoin directly as indirect bitcoin exposure because the notes can be converted into MSTR shares