MicroStrategy CEO Michael Saylor continues to remain bullish on bitcoin, hinting at the company’s HODL strategy in spite of the crypto market crash.
On Tuesday, Saylor referred to his month-old tweet regarding MicroStrategy’s $205 million term loan against bitcoin. He highlighted that the company is obligated to have $410 million as collateral, further noting that they can offer 115,109 BTC for the pledge. However, Saylor also emphasized that if the price of BTC falls below $3,562, the company will be required to pledge other assets, further hinting at a potential liquidity issue.
Saylor hinted that his company has no plans to sell its BTC. He ascertained that Microstrategy will continue to HODL through the bear period. Saylor added that the company understood crypto’s volatile nature before adopting a bitcoin strategy as its investment model, further stating that they “anticipated volatility and structured its balance sheet” accordingly.
Gold proponent and crypto critic, Peter Schiff took a dig at Saylor’s confidence in bitcoin. Schiff argued that what the MicroStrategy CEO is referring to is not volatility, but a full blown collapse.
