many of them do. what were debt holders who converted at .036 doing when we hit .13? selling at a higher price. i could show you many points on the charts where debt holders converted low and sold high. there was also a move from .051 to .10, .042 to .10, etc.
furthermore, none of these moves were driven by the news we're waiting for, either. they happened because MMs who were stacking the ask suddenly flipped over to the bid side and pushed.
with material events, such as news of non-toxic loans, the debt holders can convert here and see a run to much higher prices. imo this is why we're seeing large blocks accumulated. debt holders have a posse.
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