According to Odaily, brokerage firm Bernstein has identified MicroStrategy as a pioneer in the Bitcoin capital market. The company has reportedly raised $4 billion in convertible debts to purchase Bitcoin. Analysts Gautam Chhugani and Mahika Sapra have stated that MicroStrategy is the only company generating institutional demand for Bitcoin-linked convertible bonds.
Bernstein has noted that since the start of its cryptocurrency purchases in 2020, MicroStrategy has not sold any of its Bitcoin. It is anticipated that the company will continue to raise funds to increase its Bitcoin reserves. This move by MicroStrategy underscores the growing institutional interest in Bitcoin and the broader cryptocurrency market. The company's strategy of raising convertible debt to purchase Bitcoin is a unique approach that could potentially influence other companies to follow suit.
