Michael Saylor said that all of MicroStrategy's $ 400 million backup Bitcoin holdings could be liquidated at any time.
In an interview on 22 September, Saylor told Bloomberg that although volatility is not really a reason to sell, he will not hesitate to dump MicroStrategic holdings. Of 38,250 Bitcoin (BTC) at any given moment if yields for the replacement asset soared.
selling such a large amount of crypto assets could easily lead to a significant drop in prices, as happened in June when whales caused Bitcoin's price to drop below 9,000 Dollar.
and although MicroStrategy acquired Bitcoin in 78,338 separate off-chain transactions, the CEO said unpacking it would be much easier.
where Saylor said: We can liquidate it on any day of the week, at any hour of the day ... If you need to liquidate $ 200 million from Bitcoin, I think I can do it on a Saturday.
On August 11, MicroStrategy announced the purchase of 2,1454 Bitcoin for $ 250 million, and the adoption of the cryptocurrency as its primary reserve asset. After the initial investment, the company purchased an additional 16,796 Bitcoin for $ 175 million.
Its total holdings are now valued at around $ 401.5 million with a recent decline in crypto assets of 6%, meaning a negative return of 3.2% after six weeks. However, Bitcoin is generally on the rise in 2020, from $ 7,000 in January to testing the $ 11,000 barrier in September.
The CEO of Bloomberg said: We feel very confident that Bitcoin is less risky than holding cash, and less risky than holding gold. He predicts that other companies will likely invest in Bitcoin within six months.
(Amazon Fun Knowledge)
