Saylor Defends Microstrategys BTC-Backed $200M Loan - BitcoinEthereumNews.com
BitcoinSaylor Defends Microstrategys BTC-Backed $200M Loan05 / 11 / 2022बिटकॉइन एथेरियम समाचार The business intelligence software provider MicroStrategy recently got a $205 million loan from the Silvergate Bank. The move soon faced criticism from investors as they were concerned about the companys Bitcoin position during margin calls. Now, CEO Michael Saylor assured that the company would supply more Bitcoins to cover the collateral during such events. He also mentioned that BTC has to go way below $4,000 to jeopardize its collateral position in the loan. The chances of the company looking for alternative collateral are very thin, considering the current position of BTC in the market. The CEO offered his conclusions through a tweet after a meticulous study of the concerns and possible outcomes. The loan was taken last March under the name of MicroStrategy, a subsidiary of MicroStrategy. The $205 million loans were reportedly taken to increase the Bitcoin reserve of the company. Investors shot the questions during the earnings call for Q1 2022 about the needfulness and efficiency of using Bitcoin as collateral for the loan. According to Chief Financial Officer Phong Le, Bitcoin has to drop as low as $21,000 for the company to face a margin call. However, the company