Cryptocurrencies
MicroStrategy’s Saylor Says Markets Not Ready for Bitcoin Bonds
- Software maker decides to take loan rather than sell bonds
- El Salvador’s proposed issue isn’t a ‘pure’ play, Saylor says
This article is for subscribers only.
Financial markets are unprepared for Bitcoin-backed bonds, according to MicroStrategy Inc. founder Michael Saylor, the most vocal advocate of companies adding the cryptocurrency to their balance sheets.
“I’d love to see a day where people eventually sell Bitcoin-backed bonds like mortgage-backed securities,” Saylor, MicroStrategy’s Chief Execujtive Officer, said in an interview Tuesday after the software maker announced that it was taking a loan to buy more of the digital asset. “The market is not quite ready for that right now. The next best idea was a term loan from a major bank.”