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Michael Saylor: We will HODL overcome all adversity

Michael Saylor has emphasized that MicroStrategy will keep its Bitcoin no matter how the market works.

Michael Saylor publicly stated that MicroStrategy is not in danger of being liquidated despite the sharp market drop. The company’s financial statements also support his claims.

The CEO of MicroStrategy retweeted a May 10 post in which he presented the company’s financial position.

In a post a month ago, MicroStrategy stated that they would be liquidated on a $205 million loan if BTC falls below $3,562.

Even if it did drop to $3,562, MicroStrategy “could sell some other collateral” to avoid liquidation, Saylor said on May 10.

Bitcoin has had a shaky week after falling to its lowest level since December 2020. BTC is currently trading at around $21,613.

In response to market volatility, Saylor reiterated that MicroStrategy is taking a long-term view of Bitcoin holdings.

Saylor wrote:

“When MicroStrategy adopted the #Bitcoin strategy, we anticipated our volatility and balance sheet structure to be able to continue #HODL through all adversity.”

MicroStrategy began investing in Bitcoin as a reserve asset in August 2020, citing the weakening dollar and global macroeconomic conditions.

According to its Q1 2022 Financial Results report, the company owns a total of 129,218 Bitcoins as of March 31, 2022.

The company’s average purchase price is about $30,700.

Other documents also show that 19,466 Bitcoins from MicroStrategy’s archives were collateralized to Silvergate Bank for a loan of $205 million.

Shares of MicroStrategy (MSTR) are trading at $164.57 at press time, up 7.79% on the day. Despite the gains, the stock is still down 87% from its February 2021 all-time high of $1,311.