Cloud software company MicroStrategy today announced another Bitcoin buy—spending this time $10 million on the cryptocurrency—despite the price of the asset dropping below $20,000

The tech firm has now spent over $3.98 billion on Bitcoin, and owns 129,699 digital coins, according to statements from its CEO Michael Saylor. It is also at a loss of $1.3 billion since the price of the currency has dipped. 

MicroStrategy CTO Phong Lee last month told shareholders that if the price of Bitcoin dropped below $21,000, the company would face a margin call on a $205 million loan that it took out in March to buy more BTC. The price of Bitcoin currently stands just under $20,000—70% lower than its November all-time high of nearly $69,000, per CoinMarketCap data.

A margin call is when a margin account (a type of account offered by brokerage firms that allows investors to borrow money to buy other assets) runs low on funds, usually because of a losing trade. 

A margin call in MicroStrategy’s case would have potentially meant forced selling of its Bitcoin holdings to prevent further losses to shareholders. But Saylor doesn’t seem worried.

Earlier this month, the MicroStrategy CEO took to Twitter to remind followers (and investors) and the company…


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