The biggest corporate holder of bitcoin is facing a reckoning

MicroStrategy is famous for owning more bitcoin than any other publicly-traded company. MicroStrategy chief Michael Saylor believes so deeply in the promise of the primordial cryptocurrency that the company took out a $205 million loan from Silvergate Bank to buy $190 million worth of bitcoin in April. “Bitcoin needs to cut in half for around $21,000 before we’d have a margin call,” MicroStrategy president Phong Les said in May during an earnings call. Read More...


MicroStrategy can withstand bitcoin volatility, CEO says amid ‘margin call’ fears

MicroStrategy CEO Michael Saylor said on Tuesday the software firm was capable of withstanding volatility in bitcoin prices after the token slumped to levels that triggered fears of possible liquidation on its leveraged position. MictroStrategy, an aggressive investor in bitcoin, said it borrowed $205 million from crypto bank Silvergate Capital in March, with the three-year loan mostly secured against some 19,466 bitcoins. If the bitcoin price dropped below about $21,000, it would trigger a “margin call” or demand for extra capital, MicroStrategy President Phong Le said in webcast in May.

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