Mobile games maker Zynga, known best for Words With Friends and Farmville, has revealed a $750 senior convertible note offering that could potentially end up in Bitcoin. 

Here are all the oddly coincidental details that mimic the timing of the Michael Saylor-led MicroStrategy convertible note offering that was used to purchase a large sum of the cryptocurrency. 

A bull market was brewing in Bitcoin whether bears wanted it or not. A strong base has been built, the cryptocurrency’s market cap remained above $200 billion – a key barometer of staying power as a network – and much more.

The asset’s scare supply and block reward halving mechanism favor price appreciation in four-year intervals, with a peak phase potentially starting any moment, or well underway.

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The match that lit the bull market fuse, however, was the reveal that the cryptocurrency had matured into a corporate treasury reserve asset and that Nasdaq-listed software firm MicroStrategy had bought a substantial amount of BTC.

Rather than let their cash reserves devalue, MicroStrategy put their funds in Bitcoin, and their investment has nearly doubled in value since. MicroStrategy CEO Michael Saylor has since taken form as the savior of the crypto space, who has since doubled down on Bitcoin and raised another $650 million to buy BTC via senior convertible notes.

Before this move, however, Saylor thought the young asset’s days were numbered as far back as December 2013. His tune has since changed to “bull, bull, bull.”

Interestingly, another company that is raising $750 million via senior convertible notes, is mobile games company Zynga.

Zynga has revealed a convertible note offering to investors very similar to what MicroStrategy rolled out recently. A portion of the next proceeds will go towards paying the cost of “capped call transactions” it outlines, but the rest will be “working capital.” Zynga has not designated any specific uses and has no current agreements with respect to any material acquisition or strategic transaction,” according to a release.

The buying Bitcoin theory undoubtedly a stretch, but is no longer as far-fetched as it would have sounded one year ago. Saylor and MicroStrategy were followed up by Jack Dorsey and Square Inc, in accumulating BTC as a reserve asset, and Zynga could be the next in the domino effect.

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And while there just as easily could be zero ties or intent for the brand to purchase cryptocurrencies, there’s a chance they’ve been down the same rabbit hole Saylor has.

Comparing the timing of ‘the Michael Saylor and MicroStrategy’ first instance of interest in Bitcoin to the emergence of the convertible note offerings we’re seeing now, and they line up just weeks away.

Back in December 2013, Saylor was wary of the early asset and himself admits he was wrong – Bitcoin has since proven itself to the executive. Weeks later during the first week of January 2014, Zynga first revealed they were exploring Bitcoin payments for its games portfolio.

The bear market of 2014 and 2015 then started, and the asset class fell back into obscurity. When it resurfaced, it rose to $20,000. Now it is back there, and Michael Saylor doesn’t want to be left behind again. Maybe Zynga is following suit and could move that “working capital” into BTC to preserve company reserves against inflation. Or as Saylor has shown, it’s been an incredible investment in its own right.

For now, the above is pure speculation and a spotlight on the unusual correlation that could give credence to the theory.

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