$BTC đŸ”„đŸ”„đŸ”„

Strategy founder Michael Saylor has revealed the firm plans to convert its $6 billion in bond debt into equity — a move that reduces debt on the balance sheet.

“Strategy can withstand a drawdown in $BTC price to $8,000 and still have sufficient assets to fully cover our debt,” stated the firm on X on Sunday, prompting Saylor’s response.

The Bitcoin ($BTC) treasury company currently holds $49 billion in Bitcoin reserves with a stash of 714,644 $BTC.

Its convertible debt is around $6 billion, so $BTC would need to fall around 88% for the two to be equal, and it still has enough to cover the debt, the firm explained.

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$BNB

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