MicroStrategy has no plans to get rid of their bitcoins

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MicroStrategy has no plans to liquidate its cryptocurrency holdings. In order for the firm to run out of digital assets to secure loans, the price of bitcoin must fall below $3,562, according to CEO Michael Saylor.

“MicroStrategy has taken out a $205 million term loan and is to provide $410 million in collateral. The company has 115,109 BTC to pledge. If the price of bitcoin drops below $3,562, we may place another collateral,” he wrote.

Earlier, the company published financial results for the first quarter of 2022. For the reporting period, it earned $119.3 million on expenses of $298 million. The latter figure includes $170.1 million that came from a negative revaluation of its digital assets.

MicroStrategy holds 129,218 BTC in balance — more than $4 billion at the exchange rate at the time of writing. At the same time, 115,109 BTC are stored in the reserves of the MacroStrategy division. The company considers 95,643 BTC “unspent”.

Cryptocurrency balance MicroStrategy. Data: microstrategy.

On May 9, amid the collapse of the cryptocurrency market, MicroStrategy shares collapsed by more than 25%. On May 10, during the premarket on Nasdaq, the securities won back part of the fall, but after the opening of the main session, the quotes went down again.

At the time of writing, the stock is trading near $216.

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Source: Cryptocurrency

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