What Bitcoin Did cover image

Strategy's Trillion Dollar Bitcoin Bet | Jeff Walton

What Bitcoin Did

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Exploring Bitcoin-Backed Financial Strategies

This chapter examines the financial position of a treasury company that holds over 592,000 Bitcoin and its debt dynamics, countering misconceptions about leverage ratios. It highlights innovative funding strategies using debt and equity, emphasizing the significance of capital stack hierarchy and distinct financial products like perpetual preferred equity. The discussion also compares the risk and yield of these instruments to traditional assets, showcasing their appeal in the current investment landscape.

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