tl;dr
The recent surge in cryptocurrency markets, led by Bitcoin reaching a new all-time high, has sparked a notable rebound in a bond issued by US-based crypto exchange company Coinbase. The convertible bond, initially sold during the pandemic, has now reached a two-year high, benefiting from the recove...
The recent surge in cryptocurrency markets, led by Bitcoin reaching a new all-time high, has sparked a notable rebound in a bond issued by US-based crypto exchange company Coinbase. The convertible bond, initially sold during the pandemic, has now reached a two-year high, benefiting from the recovery in digital asset prices. This resurgence in the bond’s value mirrors a broader resurgence in the appetite for convertible bonds, particularly in the artificial intelligence sector. In the crypto space, MicroStrategy and DigitalOcean have also experienced success with convertible bonds. Additionally, asset manager Grayscale has requested the US Securities and Exchange Commission (SEC) to allow options trading on spot Bitcoin exchange-traded funds (ETFs), prompting the SEC to extend the decision timeline.
The recent surge in cryptocurrency markets, led by Bitcoin (BTC), which hit a new all-time high (ATH) of $69,300 on Tuesday, has sparked a notable rebound in a bond issued by US-based crypto exchange company Coinbase. The convertible bond, initially sold during the pandemic as demand for tech and growth stocks soared, has now reached a two-year high, benefiting from the recovery in digital asset prices. According to Bloomberg, this resurgence in the bond’s value mirrors a broader resurgence in the appetite for convertible bonds, particularly in the artificial intelligence (AI) sector, where some firms have successfully issued bonds with no coupon. In the crypto space, MicroStrategy and DigitalOcean have also experienced success with convertible bonds. Additionally, asset manager Grayscale has requested the US Securities and Exchange Commission (SEC) to allow options trading on spot Bitcoin exchange-traded funds (ETFs), prompting the SEC to extend the decision timeline.
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