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![cryptovicci Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::915325901503631361.png) Cryptovicci 🌐 [@cryptovicci](/creator/twitter/cryptovicci) on x 2570 followers
Created: 2025-07-24 05:20:52 UTC

When $MARA issues convertible notes, holders can convert into shares → dilution risk.

A capped call is like insurance:
🔸MARA buys call options at the conversion price ($25) with a cap (say $40).
🔸If stock goes $XX → $40, MARA gets paid → offsets dilution.
🔸Above $40? Benefit capped.

Results in less dilution for the Shareholders up to the cap. 🧠


XXX engagements

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**Related Topics**
[insurance](/topic/insurance)
[stocks](/topic/stocks)
[holders](/topic/holders)
[$mara](/topic/$mara)
[stocks financial services](/topic/stocks-financial-services)
[stocks bitcoin treasuries](/topic/stocks-bitcoin-treasuries)

[Post Link](https://x.com/cryptovicci/status/1948252018121867723)