In case you haven’t noticed this is a siphon on the bond market flows. They pay 8-10%. That is about 4-5% over the risk free rate. At current mstr is extremely over collateralized. The only thing keeping fixed income investors from buying is their own dogma against BTC
If strategy can get their debt rated that opens up about 20x the amount of possible capital to flow into these preferreds. Right now it’s about 15 tril and would go to 300 tril or So.
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