Trump's Pro-Crypto Stance... Surge in Corporate Convertible Bond Issuance "BTC Purchase"

[Digital Today AI Reporter] U.S. President-elect Trump has been nominating pro-crypto figures to head financial regulatory bodies like the Securities and Exchange Commission (SEC), leading to a surge in convertible bond issuance by cryptocurrency companies.

According to Bloomberg on the 9th (local time), MicroStrategy has issued convertible bonds worth $6.2 billion this year, which is part of its recent plan to raise $21 billion. Mara Holdings has recently executed a bond sale exceeding $2 billion, riding the Bitcoin craze, and Core Scientific has raised over $1 billion so far this year.

The media reported, "With Trump nominating Paul Atkins as SEC Chairman on the 4th, Bitcoin soared above $100,000. The sharp rise in value has prompted retail investors to issue convertible bonds to purchase cryptocurrencies."

There is also a high possibility of additional transactions. Bitcoin mining company Riot Platforms announced plans to sell $500 million worth of convertible bonds this week to purchase more Bitcoin.

MicroStrategy's stock has risen 73% since the election, while shares of Mara Holdings, Riot Platforms, and Core Scientific have increased by 63%, 33%, and 30%, respectively. Bitcoin has surged over 40%, nearing $100,000.