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new grift just dropped https://t.co/gmDGb1CY0f
$coin issued $1bn of converts it didn’t need to issue, while taking advantage of an overvalued stock price Similar to $smci issuance when it broke $1,000 These corporate treasurers know what they are doing
Public company issues basic convertible debt for general corporate matters Coindesk: "Look at them learning from Michael Saylor's segregated BTC backed convertible baskets!" https://t.co/UfpYEs6Dph
$MSTR explicitly stated in their filing that the proceeds would be used to buy $BTC, while $COIN's purpose is to pay down debt. $COIN issued $1bn in converts, criticized for taking advantage of an overvalued stock price.