Name Price24H (%)
Bitcoin (BTC)
Ethereum (ETH)
Binance Coin (BNB)
Cardano (ADA)
Michael Saylor Says MicroStrategy Could Post ‘Other Collater...

Michael Saylor Says MicroStrategy Could Post ‘Other Collateral’ if Bitcoin Crashes

MicroStrategy CEO Michael Saylor has been a vocal Bitcoin advocate, with his company holding 129,218 Bitcoin (nearly $4.1 billion worth) as of its latest quarterly earnings report.

While being the biggest Bitcoin holder among publicly traded companies has its risks, Saylor shared his thoughts on how MicroStrategy could survive a serious bear market.

“If the price of Bitcoin falls below $3,562 the company could post some other collateral,” Saylor wrote on Twitter.

While the cryptocurrency market crashes and Bitcoin fluctuates near $30,700, which is roughly Microstrategy’s average cost per Bitcoin, Saylor appears to be showing no interest in selling the company’s stash anytime soon.

Details on MicroStrategy’s Bitcoin loan. Image: MicroStrategy.

Just a few weeks ago, MicroStrategy announced that its employees would be able to put Bitcoin in their 401(k) plans through Fidelity, an offering that’s already stirred “grave concerns” from the U.S. Department of Labor.

MicroStrategy’s Bitcoin holdings. Image: MicroStrategy.

Nevertheless, MicroStrategy seems committed to “hodling” Bitcoin. A week ago, MicroStrategy CTO Phong Lee had said during the company’s quarterly earnings call that, “Essentially, Bitcoin needs to cut in half, or around $21,000, before we’d have a margin call.” 

Saylor appears to be ready for far worse.

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