4min chapter

Coin Stories with Natalie Brunell cover image

Michael Saylor: Spot Bitcoin ETFs, The Halving & Bitcoin's Next Bull Run

Coin Stories with Natalie Brunell

CHAPTER

The Advantages of a Spot ETF

The reason that our debt is not, you know, the industry standard, 7, 8%, is because we've got a lot of convertible debt and we're able to borrow money with convertibles much cheaper. The people that are buying those bonds want to be able to trade the volatility. They want to arbitrage the volatility. And so they'll give us the debt cheap. So these are all arrows on our quiver. We can tap into the volatility of our stock and a Bitcoin in order to make that financing cheaper.

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