Bernstein: MicroStrategy is the only company generating institutional demand for Bitcoin-linked convertible bonds

According to ChainCatcher news, as reported by CoinDesk, brokerage firm Bernstein stated that MicroStrategy is a pioneer in the Bitcoin capital market. The company has raised $4 billion in convertible debt to purchase Bitcoin. Analysts Gautam Chhugani and Mahika Sapra noted that MicroStrategy is the only company generating institutional demand for Bitcoin-linked convertible bonds.

Bernstein pointed out that since it began purchasing cryptocurrencies in 2020, MicroStrategy has not sold any Bitcoin and is expected to continue raising funds to increase its Bitcoin reserves.