Why Did Bill Miller and His Son Buy MicroStrategy Debt? It’s the Bitcoin

Taking part in MicroStrategy’s recent $650 million convertible senior note offering was basically getting an almost-free call option on bitcoin, Bill Miller IV, the son of legendary investor, said.

CORRECTION (Jan. 24, 20:41 UTC): Corrects to note that it was the younger Miller who spoke about the fund’s purchase, not his father, the legendary investor with whom he co-runs the fund.

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