Michael Saylor assuages investors after market slumps hurts MSTR, BTC
- In May 2021, MicroStrategy’s stock value dropped by 24% following global market losses.
- This caused concern as the company had taken out a $205 million loan from Silvergate Bank in March 2021, with a portion of MicroStrategy’s Bitcoin used as collateral against the debt.
- If the price of BTC falls too low, this would trigger a margin call on the Silvergate loan due to the value of the collateralized asset dropping.
- MicroStrategy CEO Michael Saylor is confident that the firm’s BTC holdings will more than cover a potential margin call on Bitcoin-backed loans.
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