The MicroStrategy founder and CEO, Michael Saylor, is a merciless bitcoin apologetic and strategically focused his company on bitcoin two years ago. He even borrowed $205 million to buy even more BTC. MicroStrategy’s bitcoin holdings were worth $5.9 billion in March 2022. It held 129,218 bitcoins then. The company may need to post additional collateral for a loan as the Bitcoin price continues to go south. The MicroStrategy stock crashed 25% to $152.15 and has lost more than 70% of its value this year.
“We don’t expect to receive a margin call, and the company has plenty of additional collateral should we need to post more,” Michael Saylor told Wall Street Journal on Monday. However, the crypto rout deepened on Monday with bitcoin falling below $21,000 before recovering back to over $22,000.
It will at least be exciting around Michael Saylor and MicroStrategy. Many Bitcoin analysts predict a further decline of the BTC to below $20,000. The market environment couldn’t be worse for MicroStrategy.