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G’day Bitcoiner,

Here’s the week in Bitcoin treasuries.

1) Strategy₿ Announces $2 Billion Convertible Notes Offering to Fuel Bitcoin Accumulation 🚀 

2) 🚀 Fold Debuts on Nasdaq—Another Win for Bitcoin Adoption!

3) 🔥 Semler Scientific’s Q4 Earnings Soar, Bitcoin Treasury Strategy Pays Off 🔥

4) 📢 Metaplanet Hits 2,100 BTC, Owns 0.01% of Total Bitcoin Supply

5) 📢 Czech Central Bank Governor: Bitcoin Stands Apart from Crypto

🚀💰 Bitcoin Price & ETF Flows Update 📈

🚀 Strategy₿ Announces $2 Billion Convertible Notes Offering to Fuel Bitcoin Accumulation 🚀

Strategy₿ (Nasdaq: MSTR) is making another bold financial move. The company has announced plans to issue $2 billion in 0% convertible senior notes due 2030 in a private sale to qualified institutional buyers under Rule 144A of the Securities Act.

Additionally, Strategy has granted initial purchasers the option to buy an extra $300 million in notes, subject to market conditions.

💡 Why It Matters:

• Senior convertible notes are a hybrid between debt and equity, offering noteholders priority over common stockholders in case of bankruptcy or liquidation.

• These notes are a key piece of Strategy’s 21/21 Plan, a bold $42 billion capital strategy split between equity and fixed-income securities to accumulate more Bitcoin.

• The plan, spearheaded by Executive Chairman and co-founder Michael Saylor, has already crossed the halfway mark since its announcement on Oct. 30.

🔥 Who’s Buying These Notes?
Institutional investors, hedge funds, and other sophisticated market participants who see value in Strategy’s aggressive Bitcoin strategy could be the primary buyers.

Convertible notes offer potential upside in the form of conversion to equity while maintaining downside protection as senior debt, making them attractive to investors bullish on both Strategy and Bitcoin.

💰 Key Deal Terms:

• 0% Interest. No accretion.

• Maturity: March 1, 2030.

• Convertible into cash, Strategy stock, or a mix—at the company’s discretion.

• Early redemption possible starting March 5, 2027, but only if Strategy’s stock price exceeds 130% of the conversion price.

🚀 What’s Next?
With over half of its $42 billion capital plan already deployed, Strategy is showing no signs of slowing down. Expect more aggressive Bitcoin acquisitions and market-shaping moves in the coming months.

🚀 Fold Debuts on Nasdaq—Another Win for Bitcoin Adoption!

Bitcoin financial services firm Fold Holdings (FLD) officially went public on Nasdaq on Feb. 19, becoming the 12th crypto-native company to hit the exchange after completing its merger with FTAC Emerald (FTAC).

💡 Why It Mattered:
✅ A Bitcoin-backed financial services firm entered public markets
✅ Traded under FLD & FLDDW, expanding Bitcoin stock exposure
✅ Joined industry giants like Coinbase & Strategy

Fold’s Mission?
Founded in 2019, Fold set out to make Bitcoin more accessible with BTC-integrated financial products. The firm recently opened a waitlist for its upcoming credit card offering 2% Bitcoin cashback.

📊 Bitcoin Holdings:
Fold ranked #23 among corporate Bitcoin holders with 1,000 BTC in its treasury (Bitcoin Treasuries data).

Bitcoin on Wall Street Keeps Growing
With spot Bitcoin ETFs surpassing $40B in net flows, Fold’s public listing marked another step toward mainstream Bitcoin investment, following Strategy’s success as a publicly traded BTC proxy.

🚀 Bitcoin keeps winning.

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🔥 Semler Scientific’s Q4 Earnings Soar, Bitcoin Treasury Strategy Pays Off 🔥

📈 What to Know:
Semler Scientific (SMLR) marked up its Bitcoin holdings by $28.85M, boosting Q4 net income to $29.2M ($3.64 per share) - a massive jump from $4.2M ($0.62 per share) a year ago.

The move follows the company's adoption of the new FASB fair value rule, allowing digital assets to be reported at market value.

🚀 Bitcoin Treasury Strategy Success

Semler Scientific is now the second U.S. public company to embrace a Bitcoin treasury strategy, holding 3,192 BTC worth over $300M. Since inception, this move has delivered a 152% return, making Semler the 10th-largest corporate Bitcoin holder.

The impact? A 200%+ surge in market cap and a major milestone in the company’s financial evolution.

💰 Convertible Notes Offering Signals Market Confidence

Investor demand was strong - Semler upsized its convertible notes offering to $100M (from $75M), with a 75% conversion premium. This oversubscription underscores investor confidence and gives Semler even more financial flexibility.

📊 Record Cash Generation

Beyond Bitcoin, Semler’s core healthcare business is thriving, generating $24M in record cash flow in 2024. This financial strength reinforces the company’s position as both a profitable business and a Bitcoin-focused innovator.

🔥 Semler Scientific continues to prove that smart treasury moves + strong business fundamentals = serious market gains.

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Short ₿its 🌟

📢 Metaplanet Hits 2,100 BTC, Owns 0.01% of Total Bitcoin Supply!

The Tokyo-listed firm just added 68.59 BTC for $6.6M, bringing its total holdings to 2,100 BTC—securing 0.01% of all Bitcoin that will ever exist. Shares are up 1% as the company ramps up its "21 Million Plan."

📢 Montana Advances Bitcoin Reserve Bill, Joins Three Other States

Montana’s House Business and Labor Committee passed a Bitcoin reserve bill, making it the fourth U.S. state to advance such legislation to the House. If approved, the bill would allow the state treasurer to allocate up to $50M into Bitcoin, stablecoins, and precious metals starting July 1.

📢 Quantum BioPharma Expands Bitcoin Holdings to $2M

Quantum BioPharma has purchased another $1M in Bitcoin and other cryptocurrencies, doubling its total crypto treasury to $2M as part of its strategic diversification plan.

The company is now positioned to accept financing and conduct transactions in cryptocurrency, reinforcing its belief in BTC as a hedge against the Canadian dollar.

📢 Czech Central Bank Governor: Bitcoin Stands Apart from Crypto

Governor Aleš Michl says Bitcoin is fundamentally different from other digital assets, as the bank considers a test portfolio to explore its potential as a reserve asset while urging extreme caution on the broader crypto market.

Tweet of The Week

Podcast of The Week

🚀Aussie Entrepreneurs Stacking Bitcoin For Their Companies

Adam Hudson and guests on the Unemployable Podcast break down why companies are holding Bitcoin, exploring its role as an inflation hedge, financial safety net, and growth tool. Don’t miss this deep dive into Bitcoin’s impact on business strategy!

Other newsletters we’re reading 📬✨

• Elite Trading Club - Your daily dose of market movers 🍔 (Link)

• Letter of Intent - Stay ahead of Australian business news 📄 (Link)

• Bitcoin News Weekly - Latest developments in Bitcoin 🔒 (Link)

• HODL Report 🚀 (Link)

If you have questions about how Bitcoin could help you or your business, please don’t hesitate to reach out for a free 30-minute consultation 🕒. We're here to help you navigate the future of Bitcoin 💡

Thanks for reading! We hope you’ve enjoyed this week’s edition and look forward to seeing you next week! 👋

Daniel 

for Bitcoin on Balance

32 York Street, Sydney NSW 2000, Australia

https://www.bitcoinonbalance.com/