Bitcoin whale Michael Saylor tries to defuse fears over MicroStrategy margin call - BitcoinEthereumNews.com
Bitcoinबिटकॉइन व्हेल माइकल सायलर ने माइक्रोस्ट्रेटी मार्जिन कॉल पर आशंकाओं को दूर करने की कोशिश की05 / 11 / 2022बिटकॉइन एथेरियम समाचार Crypto diehards suffered a brutal month, and there are few bigger backers than the Bitcoin whale himself, Michael Saylor. His software company, MicroStrategy, has effectively become little more than a levered play on rising Bitcoin adoption rates through events like Fidelitys 401(k) launch, a “shot heard round the world,” according to Saylor this month. Since his titular core business is unable to produce enough cash to satisfy his appetite for the cryptocurrency, the CEO has borrowed heavily to finance his buy-and-hold strategy. Lately that included the first-ever Bitcoin-backed term loan for $205 million, which resulted in 19,466 Bitcoin from its own holdings set aside to meet the minimum requirement of $410 million security. With leverage, however, comes the risk of margin calls. So when news emerged earlier this month that it might be forced to post further collateral if the price drops below $21,000, investors were spooked, fearing a whale might be forced to liquidate part of his holdings. Saylor, after all, has made it crystal clear his company is not the equivalent of a crypto prop desk earning trading income from short-term fluctuations