MicroStrategy president Michael Saylor said the analytics software provider predicts market volatility when choosing a strategy to invest in bitcoin. He made sure the company was ready to hold more of the cryptocurrency.
According to Saylor, MicroStrategy initially allocated its assets in such a way that it continues to walk even in “adverse conditions” in the market.
The company holds 129,218 BTC in its reserves. At the time of writing, it’s worth $2.7 billion.
Against the background of a crash in the price of the first cryptocurrency, MicroStrategy’s “paper” loss from holding bitcoin exceeded $ 1 billion.
As a reminder, Saylor consistently stresses that the company will continue to follow its strategy of buying and holding bitcoin. He believes such a policy will provide the software vendor with a “bright future” for years to come.
The head of MicroStrategy had previously said that the bitcoin price would have to drop below $3,562 for the company to not have enough digital assets to secure loans.
Saylor said in June that Bitcoin’s short-term volatility was irrelevant, describing the first cryptocurrency as “the safest thing in a highly volatile world.”
Source: Fork Log
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