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Michael Saylor Reveals Details of $2 Billion Loan to Buy Bitcoin
Michael Saylor, the CEO of MicroStrategy, has been under scrutiny for his company’s strategy to invest in Bitcoin. Many speculate that Strategy’s strategy will only work if the price of BTC continues to rise. And if Bitcoin goes into a bear market, the company will be in big trouble.
However, as Bitcoin continued to rise and broke the $100,000 per BTC mark, MicroStrategy’s stock jumped 140% since September, and from the lows to the highs it was a move from $113 to $543. Thus, it seems that the strategy is paying off, but skepticism remains, and participants from both the stock and crypto markets are keeping a close eye on Michael Saylor’s actions, trying to catch the moment when the play turns ugly.
It is worth noting that some of these critics have pointed out that if the price of Bitcoin falls below $433.43, which is the conversion price set in the most recent prospectus, and remains below it until the notes mature, Strategy may have to sell some of its BTC to pay its creditors.
Source: u.today
