Saylor didn��t just buy Bitcoin.
He built a product Wall Street could buy.
0% convertible bonds = long-dated call options.
He sold volatility to credit markets.
Harvested premium.
Bought $BTC.
Outperformed spot.
That’s asymmetric thinking.
He built a product Wall Street could buy.
0% convertible bonds = long-dated call options.
He sold volatility to credit markets.
Harvested premium.
Bought $BTC.
Outperformed spot.
That’s asymmetric thinking.