ChainCatcher news, according to CoinDesk, brokerage firm Bernstein said that MicroStrategy is a pioneer in the Bitcoin capital market. The company has raised $4 billion in convertible debt to buy Bitcoin. Analysts Gautam Chhugani and Mahika Sapra said that MicroStrategy is the only company that has generated institutional demand for Bitcoin-linked convertible bonds.

Bernstein pointed out that MicroStrategy has not sold any Bitcoin since it began buying cryptocurrencies in 2020, and expects the company to continue to raise funds to increase its Bitcoin reserves.