MicroStrategy Liquidates $103M Worth Bitcoin
Alongside Bitcoin’s drop under $25,000, it is important to recall MicroStrategy’s CFO’s comments. The comments were regarding the possibility of getting a margin call at $21,000 on the company’s huge BTC holdings.
On the May 3 earnings call, Phon Le, the firm’s new Chief Financial Officer, described the collateralization method on MicroStrategy’s Bitcoin position. He assured that they need not put extra cash into their holdings. As MicroStrategy prepares its first margin call, investors are at ease. This is due to the large liquidity collateral at the company. The company’s current capital is more than sufficient to support the present position and begin a fresh one.
Source
@CryptoWorldAnalysis
