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According to Michael Saylor’s latest post on Twitter, his company MicroStrategy just bought another $10 million worth of Bitcoin.
MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin. As of 6/28/22 @MicroStrategy holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin. $MSTRhttps://t.co/leQYTXn817
— Michael Saylor⚡️ (@saylor) June 29, 2022
The general sentiment of investors today is panic and anxiety because of the market’s downtrend, so it is understandable to see investors intending to sell off. Yet the CEO of MicroStrategy at this time bought another 480 BTC despite the price of this coin continuously falling.
This has somewhat caused a stir in the investor community. To date, it is not clear why this CEO made such a bold decision.
Besides, the fact that MicroStrategy bought a large amount of BTC further clarifies the view of MicroStrategy’s CEO that there is nothing to worry about when BTC is constantly falling in price.
It also helped dispel rumors earlier this month that MicroStrategy was facing a margin call, an order asking customers or borrowers to pay down or increase the amount of collateral.
Michael Saylor explains that the company has only one mortgage of $200 million on a billion-dollar balance sheet.
In an interview with CNBC, the MicroStrategy CEO assured the community that the company would not be affected by the margin call as long as the collateral did not exceed 50%.
At the time of writing, this price of BTC has dropped to $20,053. Is the situation still as optimistic as Michael Saylor claims?