{"id":424789,"date":"2022-04-01T06:50:47","date_gmt":"2022-04-01T03:50:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/michael-saylor-financial-markets-are-not-quite-ready-for-bitcoin-bonds\/"},"modified":"2022-04-01T06:50:47","modified_gmt":"2022-04-01T03:50:47","slug":"michael-saylor-financial-markets-are-not-quite-ready-for-bitcoin-bonds","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/michael-saylor-financial-markets-are-not-quite-ready-for-bitcoin-bonds\/","title":{"rendered":"# Michael Saylor: Financial markets are \u2018not quite ready\u2019 for Bitcoin bonds"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e2137aa0e3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e2137aa0e3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/michael-saylor-financial-markets-are-not-quite-ready-for-bitcoin-bonds\/#%E2%80%9D_Michael_Saylor_Financial_markets_are_%E2%80%98not_quite_ready_for_Bitcoin_bonds_%E2%80%9C\" >&#8221; Michael Saylor: Financial markets are \u2018not quite ready\u2019 for Bitcoin bonds &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Michael_Saylor_Financial_markets_are_%E2%80%98not_quite_ready_for_Bitcoin_bonds_%E2%80%9C\"><\/span>&#8221; Michael Saylor: Financial markets are \u2018not quite ready\u2019 for Bitcoin bonds &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMzRjOWVjZmItMjlkMi00NzE3LWI4ZTQtOTRkY2FhODZiN2JhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>MicroStrategy CEO and Bitcoin permabull, Michael Saylor believes that traditional financial markets aren\u2019t quite ready for Bitcoin-backed bonds.\u00a0<\/p>\n<p>Saylor <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-30\/microstrategy-s-saylor-says-markets-not-ready-for-bitcoin-bonds?sref=323RPL5z\">told<\/a> Bloomberg on Tuesday, that he\u2019d love to see the day come where Bitcoin-backed bonds are sold like mortgage-backed securities, but warned that, \u201cthe market is not quite ready for that right now. The next best idea was a term loan from a major bank.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">MacroStrategy, a subsidiary of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MicroStrategy?ref_src=twsrc%5Etfw\">@MicroStrategy<\/a>, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a>.  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MSTR<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SI<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/QYw2ZgeE3U\">https:\/\/t.co\/QYw2ZgeE3U<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saylor\/status\/1508784757894795265?ref_src=twsrc%5Etfw\">March 29, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe remarks come two days after MicroStrategy\u2019s (MSTR) Bitcoin-specific subsidiary MacroStrategy, announced that it had taken out a $205 million Bitcoin-collateralized loan to purchase even more Bitcoin. This loan was unique, as it marked MicroStrategy\u2019s first time borrowing against its own Bitcoin reserves \u2014 which are currently valued at <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $6 billion \u2014 to buy more of the cryptocurrency. <\/p>\n<p>Saylor\u2019s comments also follow El Salvador\u2019s recent decision to postpone the issuance of its $1 billion dollar Bitcoin-backed \u201cVolcano Bond\u201d on March 23rd. According to El Salvador\u2019s Finance Minister Alejandro Zelaya, the decision to delay the bond was due to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> financial uncertainty in the global market driven by conflict in Ukraine. <\/p>\n<p>In a potential warning to El Salvador, Saylor said that the country\u2019s Volcano Bond was somewhat more risky than his company\u2019s Bitcoin-collateralized loan,<\/p>\n<blockquote><p>\u201cThat\u2019s a hybrid sovereign debt instrument as opposed to a pure Bitcoin-treasury play. That has its own credit risk and has nothing to do with the Bitcoin risk itself entirely.\u201d <\/p><\/blockquote>\n<p>Saylor added that he remains extremely bullish on the long-term potential for Bitcoin-based bonds, going as far to say that it would be a good idea for cities like New York to use Bitcoin as a debt instrument.<\/p>\n<blockquote><p>\u201cNew York can issue $2 billion of debt and buy $2 billion worth of Bitcoin \u2014 the Bitcoin is yielding 50% or more, the debt costs 2% or less.\u201d<\/p><\/blockquote>\n<p><strong>Related: <\/strong><strong>MicroStrategy CEO won\u2019t sell $5B BTC stash despite crypto winter<\/strong><\/p>\n<p>Since its initial $250-million Bitcoin investment in August 2020, MicroStrategy has now amassed a substantial 125,051 BTC \u2014 which at the current price of $44,547 equates to $5.5 billion. MicroStrategy has made a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of separate BTC purchases using the company\u2019s cash on hand as well as the proceeds of sales of convertible senior notes in private offerings to institutional buyers. <\/p>\n<p>Saylor\u2019s actions have gradually transformed MicroStrategy into a partly leveraged Bitcoin holdings company, with MSTR shares closely correlated with the price of Bitcoin. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/michael-saylor-financial-markets-are-not-quite-ready-for-bitcoin-bonds\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Michael Saylor: Financial markets are \u2018not quite ready\u2019 for Bitcoin bonds &#8220; MicroStrategy CEO and Bitcoin permabull, Michael Saylor believes that traditional financial markets aren\u2019t quite ready for Bitcoin-backed bonds.\u00a0 Saylor told Bloomberg on Tuesday, that he\u2019d love to see the day come where Bitcoin-backed bonds are sold like mortgage-backed securities, but warned that,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":424790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMzRjOWVjZmItMjlkMi00NzE3LWI4ZTQtOTRkY2FhODZiN2JhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,122847,74355,74336,73808,73785],"class_list":["post-424789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-microstrategy","tag-adoption","tag-bonds","tag-loans","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=424789"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/424790"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=424789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=424789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=424789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}