Distressed Funds Explore Swap of Strategy Holdings Amid Rout

Distressed-debt funds that snapped up Strategy Inc.’s beaten-down preferred shares are in talks with one of the company’s bankers about swapping them for other securities, pitching it as a win-win as the relentless rout in crypto puts the Bitcoin accumulator… Distressed-debt funds that snapped up Strategy Inc.’s beaten-down preferred shares are in talks with one of the company’s bankers about swapping them for other securities, pitching it as a win-win as the relentless rout in crypto puts the Bitcoin accumulator in an increasingly tough spot.