microstrategy3

Not worried about Bitcoin margin call: MicroStrategy’s Michael Saylor

Posted on


The CEO of business analytics software firm MicroStrategy took to Twitter to reassure investors as an outsized bet on Bitcoin faltered.

See related article: Has Bitcoin become a victim of its own success?

Fast facts

  • If the price of Bitcoin falls below US$3,562, the company could post some other collateral, Saylor claimed.
  • MicroStrategy has a US$205 million term loan and needs to maintain US$410 million as collateral, he added.
  • The firm can pledge 115,109 Bitcoin, Saylor said. 
  • MicroStrategy reported a 3% drop in first-quarter revenue, or almost flat on a constant currency basis, as it expensed US$170.1 million in Bitcoin-related impairment expenses. 
  • The company held 129,218 Bitcoins at the end of the first quarter. 
  • MicroStrategy’s Bitcoin purchases are still in the money. The firm’s Bitcoins are worth about US$4.10 billion, according to Bitcoin Treasuries. It had spent a little over US$3.97 billion buying them.

See related article: Bitcoin, crypto market dive to lowest mark since February





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *