Published on 13 Jan 2025 on Benzinga
Arthur Hayes, co-founder of cryptocurrency exchange BitMEX and Chief Investment Officer at Maelstrom Fund, cast aspersions on MicroStrategy Inc.’s MSTR debt-powered Bitcoin BTC/USD buying strategy, forecasting challenging times for the firm when the top cryptocurrency loses volatility.
What happened: In an interview with Benzinga, Hayes slammed MicroStrategy’s volatility monetization play, which includes issuing convertible debt and other fixed-income securities to buy Bitcoin.