Michael Saylor dismisses talk of Bitcoin loan margin call: ‘It’s just made me Twitter famous’
June 15, 2022, 4:39 PM UTC
MicroStrategy (MSTR) CEO Michael Saylor reiterated his bullish stance on owning Bitcoin as part of the company’s strategy, and said he remains unconcerned about a margin call on the company’s Bitcoin-backed loan from Silvergate.
- “The margin call thing is much ado about nothing,” Saylor said on CNBC’s Squawk on the Street Wednesday morning. “It’s just made me Twitter famous, so I appreciate that,” he added.
- “On a multibillion-dollar balance sheet, we’ve only got a $200 million loan that we have to collateralize, and we’re 10 times over-collateralized on that right now,” Saylor added.
- Saylor said MicroStrategy continues to generate cash flow, and that “from time to time as we have excess cash, we’re going to buy more [Bitcoin],” he told CNBC. “Our strategy is: Buy it and hold it and sweep our free cash flows into Bitcoin.”
- When asked whether it would make sense for the company to buy some of its own bonds, which are trading at a discount, Saylor said that “the securities market is very volatile” and that the company’s investors are very aware of its Bitcoin-focused strategy.
Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
