Are any of you familiar with MicroStraegy (MSTR)? It’s an enterprise software company whose revenue has been declining in recent years. In December the Company made a $1 billion Bitcoin investment, and the stock soared.
The Company is using Bitcoin as its primary treasury reserve asset and funded a large portion of its Bitcoin investment by issuing convertible bonds.
I don’t have a long or short position in the stock, nor do I plan to; I just think it’s interesting.