Michael Saylor’s Bitcoin Strategy Drives MicroStrategy’s 490% Surge, Hedge Fund CIO Says It’s An ‘Extreme Example’ Of Volatility Monetization
Posted On December 5, 2024
MicroStrategy Inc. (NASDAQ:MSTR) is attracting hedge fund interest through its convertible notes offerings, as co-founder Michael Saylor continues his aggressive Bitcoin (CRYPTO: BTC) purchase strategy that has driven the company’s stock up more than 490% this year, as of Wednesday.
What Happened: Calamos Advisors LLC, among other major hedge funds, has appeared as a key player in MicroStrategy’s $6 billion convertible note issuance this year, reported Bloomberg.
These notes, created to finance the company’s growing cryptocurrency holdings, have become attractive vehicles for market-neutral arbitrage strategies.
“Convertibles are a way …
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