Investor sentiment in the crypto market has been on the decline since the bitcoin crash in June but had begun to see some uptick once the price began to stabilize. That is until another dip sent the price of bitcoin back below $ 20,000 and has once more triggered fear in investors. The Fear & Greed Index which had been recording some recovery in the sentiment has seen its reading plunge deep into the red once more.
Michael Saylor took to Twitter to assure investors that MicroStrategy’s balance sheet is well-positioned to avoid a margin call in its bitcoin-backed loan.
- Michael Saylor said his company had anticipated eventual bitcoin volatility and is prepared to “HODL through adversity.”
- MicroStrategy took out a $ 205 million bitcoin-backed loan from Silvergate Bank in March 2022 and risks getting margin called if bitcoin falls below $ 21,000.
- Saylor had previously tweeted that the company has 115,109 BTC as well as other assets available to post as collateral to avoid liquidation.