Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR).
Strategy (MSTR), formerly MicroStrategy, is the largest issuer of U.S. convertible bonds in 2025, according to their recent post on X.
“Strategy is the largest convertible bond issuer again in 2025. Year to date, we represent 30% of the U.S. convertible market, powered by Bitcoin”.
Year-to-date, the company has issued $2 billion in convertible bonds. For context, the total U.S. convertible debt market currently stands at approximately $280 billion, according to an X post by btc_overflow.
In Strategy’s post, it shows their six convertible debt offerings outstanding with a total notional value of $8.2 billion. These convertible bonds have an average weighted maturity of 5.1 years and a coupon rate of 0.421%.
Strategy’s shares has been even more volatile than bitcoin’s (BTC) price of late. The stock has rebounded approximately 30% from its Feb. 28 lows but had…
