MicroStrategy Could be Forced to Add More Bitcoin Collateral for its Loan if BTC Drops Below $21k. Summary:.

15 Jun 2022, 08:00

MicroStrategy Could be Forced to Add More Bitcoin Collateral for its Loan if BTC Drops Below $21k Summary: Bitcoin’s drop to a local low of $22,600 has rekindled discussions surrounding MicroStrategy’s possible margin call on its $205 million loan if Bitcoin drops below $21k.However, MicroStrategy’s CFO had in early May clarified that the company was ready to post more Bitcoin collateral for the loan.Michael Saylor had also pointed out that the company could post some other collateral besides Bitcoin if the price of BTC fell below $3,562.Bitcoin has had a tumultuous weekend rolling into the new week after a substantial drop in value from comfortable levels above $28k to a local low of $22,600 set earlier today. At the time of writing, Bitcoin is trading at $23,600 as it focuses on recapturing the $24k support zone. MicroStrategy Could Be Forced to Add more Bitcoin as Collateral for its $205 Million loan.The sudden drop in Bitcoin’s value has been attributed to the ongoing Celsius saga that has left the platform almost insolvent and halting crypto user withdrawals. In addition, the drop to $22,600 has reignited discussions surrounding MicroStrategy’s potential margin call on its $205 million loan should the price of Bitcoin drop below $21k.