MicroStrategy will continue to hold bitcoin despite its collapse

MicroStrategy CEO Michael Saylor said that the company will be able to withstand future bitcoin drops even if the cryptocurrency price falls below $ 3,500. He wrote about this on June 14 on Twitter.

In this way, the CEO assured users that despite the plight of the cryptocurrency market, his company is not in danger of liquidation. Sailor’s arguments seem to be supported by MicroStrategy’s financial books.

According to the CEO, his company was prepared for bitcoin’s volatility and «survived» it thanks to a pre-selected crypto strategy. The businessman added that MicroStrategy is ready to hold the cryptocurrency further, despite market turmoil. This is also evidenced by the data from Bitcoin Treasuries, according to which MicroStrategy holds 129 218 BTC in reserves with a net loss of $ 1.06 billion.

«When the company chose the #Bitcoin strategy, it anticipated volatility and structured its balance sheet so that it could continue to #HODL despite the difficulties,» Saylor said, alluding to the «HODL» meme, which means «holding» coins during difficult market conditions.

In March, MicroStrategy received a $ 205 million loan from crypto bank Silvergate Capital to buy bitcoins using its own crypto assets as collateral. The terms of the loan require a margin call if bitcoin falls below $ 21,000.

However, it seems that Michael Saylor remains optimistic about bitcoin no matter what. Recently, in an interview with CNBC, he voiced the opinion that BTC will rise to $ 1 million per coin.