Bitcoin neared a price level on Tuesday that could force software firm MicroStrategy Inc to stake more tokens against a bitcoin-backed loan or trigger selling of some of its vast holdings, setting fragile cryptocurrency markets on edge.
A stock graph is seen with a representation of bitcoin in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/File PhotoSINGAPORE, June 14 - Bitcoin neared a price level on Tuesday that could force software firm MicroStrategy Inc
MictroStrategy, an aggressive investor in bitcoin, said it borrowed $205 million from crypto bank Silvergate CapitalIf the bitcoin price dropped below about $21,000 that would trigger a "margin call" or a demand for extra capital, MicroStrategy President Phong Le said in webcast in May.Bitcoin fell below that level to $20,816.36 on Tuesday before steadying near $23,000. Typically a margin call is met by providing more capital or liquidating the loan's collateral.
"We could contribute more bitcoin to the collateral package, so ... we don't get into a situation of a margin call," he had said.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Bitcoin Slumps to $22K as U.S. Dollar Hits Two-Decade HighBitcoin is close to dropping levels, at which MicroStrategy would have to face margin call
Weiterlesen »
10 Crucial Numbers to Know as MicroStrategy Nurses $900 MILLION Paper Loss on Its Bitcoin | CoinMarketCapMicroStrategy's now nursing a $900 million paper loss on its Bitcoin investment 💸 Here are 10 crucial numbers to remember as the bear market worsens 📉
Weiterlesen »
MicroStrategy's Stock Plunges 20% Daily as Company's BTC Position Down $1BThe recent declines in both crypto and stock markets have harmed MicroStrategy and its share prices.
Weiterlesen »
MicroStrategy stock opens 23% lower as crypto markets slideMicroStrategy opened down 23% on Monday following turmoil in the cryptocurrency markets over the weekend as bitcoin crashed below $25,000.
Weiterlesen »
In this together: Musk and Saylor down a combined $1.5B on Bitcoin buysA deep-dive into the bleeding Bitcoin buys of Microstrategy and Tesla ahead of earnings reports in July.
Weiterlesen »
CoinMarketCap News, June 14: MicroStrategy and El Salvador Lick Wounds as Bear Market Bites | CoinMarketCapMonday's mayhem has been nothing short of calamitous for MicroStrategy. The company is now nursing paper losses of $1 billion on its Bitcoin investment.
Weiterlesen »