Company has announced purchase of another Bitcoin chunk for $10 million
Michael Saylor’s company bought another piece of Bitcoin valued at around $10,000,000, according to a tweet the CEO posted just now.
The average price paid for Bitcoin by the software intelligence giant was $20,817 per one BTC. As of now, the company has 129,699 Bitcoins in its storage worth nearly $4 billion.
Earlier this month, CEO Michael Saylor dismissed rumors that the company would face a margin call on its Bitcoin reserve, calling it “much ado about nothing”. However, these multiple rumors made him famous on Twitter, he admitted, so he appreciates them.
Saylor explained that on its balance sheet worth several billions USD, there is only a $200 million loan that needs to be collateralized for the Bitcoin they hold. They can do it easily, according to the CEO, as the company has 10x overcollaterized on it now.
Prior to this interview with CNBC, Saylor assured the community that the company would not be affected by a margin call until the loan-to-value amount exceeded the 50% level.
