MicroStrategy Inc (MSTR)

[Surfacetite]

Wen MC

[BottomBounce]

$MSTR $123.00 support level has to hold or next stop, or next drop down could hit $100 even.

[ComstockRoyalty]

The ABYSS for Microstrategy & Bitcoin await both.

The signal for gold and silver has been given.

[Agoura Guy]

SAYLOR DESPERATION CHANNELLING 72 HOURS STRAIGHT!!!!!!

[Agoura Guy]

BTC-USD $18,228.40 -2,297.90 (-11.19%)

INSOLVENCY IS VERY CLOSE!!!!!!!

"When BTC is down at $17,750 Microstrategy's $2.3 billion debt will be greater than the total value of their 129218 Bitcoins."

MSTR SHIP IS SINKING FAST!!!!!!!

[65actual]

[Agoura Guy]

BOOM!!!!!

[trunkmonk]

I thought for sure at least BTC had a dead cat bounce run to 30, but that was cut short mid week with the weak run that busted.

[Agoura Guy]

BTC-USD $19,136.99-1,674.62 (-8.05%)

ETH-USD $997.58-95.44 (-8.73%)

[trunkmonk]

good luck with that, above 260 into june now its 160s. even that idiot Max is starting to back pedal from is public shows with Saylor as the price keeps falling.

[Agoura Guy]

BITCOIN IS UNDER $21K, THIS POS COMPANY WILL BE GETTING A MARGIN CALL ANY TIME NOW!!!!!!!!!

SHORT THIS CRAP INTO OBLIVION!!!!!!!!!!

[lexus400001]

Degenerates buy when your overbought.

Sell when your oversold.

[lexus400001]

You guys have it all wrong we going to all time highs before 2023 accumulate sit back and relax.

[trunkmonk]

Thanks

[conix]

List of Crypto Mining Companies in Trouble

https://www.buybitcoinworldwide.com/treasuries/

[conix]

Bitcoin’s plunge spells trouble for the dot-com era entrepreneur who went all in

Published Tue, Jun 14 2022
Ryan Browne

Key Points

A $4 billion bet on bitcoin by software firm MicroStrategy is in jeopardy after the cryptocurrency’s recent plunge.
The dot-com bubble-era firm’s bitcoin stash is now worth $2.9 billion, translating to an unrealized loss of more than $1 billion.
MicroStrategy is now faced with a possible margin call that investors fear could force the company to liquidate its bitcoin holdings.

In this article

MSTR+2.63 (+1.68%)After Hours


Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy’s balance sheet as part of an unorthodox treasury management strategy.



Having once lost $6 billion at the height of the dotcom bubble, software entrepreneur Michael Saylor is no stranger to volatility in the financial markets.

In 1999, MicroStrategy, Saylor’s software firm, admitted to overstating its revenues and erroneously reporting a profit when it actually made a loss. The fiasco shaved over $11 billion off MicroStrategy’s stock market value in a single day.

Now, more than two decades later, MicroStrategy is again facing questions over some of its accounting practices — this time in relation to a $4 billion bet on bitcoin.

The world’s biggest cryptocurrency briefly tumbled below $21,000 Tuesday, a key level at which MicroStrategy would be faced with a possible margin call that investors fear could force the company to liquidate its bitcoin holdings.

MicroStrategy was not immediately available for comment when contacted by CNBC.

In a tweet Tuesday, Saylor said MicroStrategy “anticipated volatility and structured its balance sheet so that it could continue to #HODL through adversity.” HODL is a slang term in crypto aimed at discouraging investors from selling.
$1 billion loss

Saylor first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy’s balance sheet as part of an unorthodox treasury management strategy.

His belief was a common one among the crypto faithful — that bitcoin provides a store of value uncorrelated with traditional financial markets.

That’s turned out to be a risky gamble, with digital currencies now moving in lockstep with stocks and other assets plunging amid fears of an aggressive interest rate hiking cycle from the Federal Reserve.
watch now
VIDEO03:27
MicroStrategy discusses why bitcoin is ‘interesting’ to Big Tech investors

Bitcoin’s price plunged 10% to $20,843 on Tuesday, extending a brutal sell-off and dragging it deeper into levels not seen since December 2020. It comes after crypto lending firm Celsius halted withdrawals on Monday, citing “extreme market conditions.”

MicroStrategy has bet billions on the cryptocurrency — $3.97 billion, to be exact. As at March 31, MicroStrategy held 129,218 bitcoins, each purchased at an average price of $30,700, according to a company filing.

With bitcoin currently trading at $22,818, MicroStrategy’s crypto stash would now be worth just over $2.9 billion. That translates to an unrealized loss of more than $1 billion.
Margin call

To add to MicroStrategy’s woes, the company now faces what’s known as a “margin call,” a situation where an investor has to commit more funds to avoid losses on a trade augmented with borrowed cash.

The company took out a $205 million loan from Silvergate, a crypto-focused bank, to continue its bitcoin buying spree. To secure the loan, MicroStrategy posted some of the bitcoin it held on its books as collateral.

Silvergate did not immediately return a request for comment.

On an earnings call in May, MicroStrategy Chief Financial Officer Phong Le explained that if bitcoin were to fall below $21,000, it could be faced with a margin call where it’s forced to cough up more bitcoin — or sell some of its holdings — to meet its collateral requirements. Bitcoin briefly slipped below that level Tuesday.

“Bitcoin needs to cut in half or around $21,000 before we’d have a margin call,” Le said at the time. “That said, before it gets to 50%, we could contribute more Bitcoin to the collateral package, so it never gets there.”

It’s not yet clear if MicroStrategy has pledged more funds to secure the loan.

In June, Saylor insisted the company has more than enough bitcoin to cover its collateral requirements. The cryptocurrency would need to slump to $3,500 before it had to come up with more collateral, he added.

Shares of MicroStrategy, considered by some as a proxy for investing in bitcoin, tumbled more than 25% on Tuesday, taking its year-to-date losses to over 70%. That’s even worse than bitcoin’s performance — the No. 1 digital coin has roughly halved in price since the start of 2022.

[fromtheuk]

It will be resolved like they all are. It will bubble along for a few months before MSTR settles out of court for enough to pay off the lawyers. Investors will get zero.

That it only took them a few hours to decide and issue a PR tells you they have nothing that we do not already know. It’s just another pay day to them.

Should be another step down is today. BTC is very close to to media stated $21k BTC that will kick off the margin call. They are wrong, but the media will enjoy printing their stories anyway.

At $19k BTC, that’s where the carnage really starts.

[trunkmonk]

crypto is loaded with conmen, no one cared as long as they were making money, said it before and ill say it again, once crypto crashes, all the angry holders who attacked anyone who tried to talk sense, those holders will cry foul and start to sue for losses. good luck with class actions.lol

[fromtheuk]

Pretty much expected I guess, but thought it would take longer than a single day…. CLASS ACTION Incoming.

SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces that it is investigating Microstrategy, Inc. (NASDAQ: MSTR) to determine whether certain Microstrategy, Inc. officers and directors breached fiduciary duties to shareholders.

Be careful out there..

[fromtheuk]

It came up on Whale Alert, Crypto Whale also tweeted it earlier today.

Considering the overall holdings ( its a relatively small amount ). I suspect this is boosting collateral against the loans to fend of any liquidation should the price drop suddenly.

BTC seems to be stabilising for now… next few days may be interesting.

[Cuppy]

This should be a good time for insiders to sell...

[Brokemillwright]

Proof of that?

[fromtheuk]

MicroStrategy has just transferred 2089 BTC to a new wallet, I assume one outside MSTR control. When the liquidation / Margin call comes, you may find all the BTC Has disappeared.

$45 Million taken out..

Be very careful here.

[fromtheuk]

MicroStrategy has just transferred 2089 BTC to a new wallet, I assume one outside MSTR control. When the liquidation / Margin call comes, you may find all the BTC Has disappeared.

$45 Million taken out..

Be very careful here.

[Agoura Guy]

INSOLVENCY IS INEVITABLE!!!!!!

[Porterhouse10]

Boy you called that one!

[fromtheuk]

Still think I’m the clown.

BTC is not in Armageddon territory let, but the risk of it collapsing along with the de-peg of Tether is very real. You could read the weekend action as a bad few days. Or simply the next leg in something much larger.

I state again. MSTR nailing its colours to the BTC mast was a huge mistake. The CEO has to go.

[trunkmonk]

sure to you and your follower. BTC to da cellar without gold, yet Kathy and Saylor chose to bash gold for the sake of fools gold instead of using gold to back BTC, who are the fools now. the micro strategy should be about gold, and the Ark should be filled with gold.

[Agoura Guy]

BTC-USD $27,519.95 -1,727.61 (-5.91%)

[Agoura Guy]

BTC-USD $28,612.14 -388.36 (-1.34%)

[SimmerDownNow]

You are a clown.

[conix]

BITCOIN PRICE CHART

[fromtheuk]

Lol… this will be under a penny before too long.

You can experience it all for yourself.

[trunkmonk]

wow coming from someone who know when a penny stock is not worth much or less than a penny, it means something.

[fromtheuk]

A simple truth here. The company has pegged its future to BTC, and BTC is dead

MSTR can survive, but it needs a new CEO, and a new strategy.

Good Luck

[trunkmonk]

Big buyer betting on a bull, after market close on MSTR. Interesting

[350z]

[Agoura Guy]

BTC-USD $29,506.69 -2,735.46 (-8.48%) MSTR $198.32 -27.2 (-12.06%).... GOING INSOLVENT!!!!!!!!

[bert1977]

Mstr ad 100$ soon ?

What you all think?

[Agoura Guy]

BTC-USD $30,384.58 -3,603.06 -10.60% ... MARGIN CALLS IMMINENT!!!!!!

[trunkmonk]

Micro down 26% today alone, now at 219. down from its 52 week high of what 891?. Saylor says to sell gold and buy BTC, where is he gonna get the money to short gold?

[Surfacetite]

Margin call soon on their bitcoin loan.

[Agoura Guy]

MSTR $244.0 -50.24 (-17.07%)

[ComstockRoyalty]

SELL IT ALL!! & BUY SILVER & GOLD.

[Agoura Guy]

BITCOIN $33,735.46 -690.05 -2.00%

[Agoura Guy]

MSTR INSOLVENCY IS A REAL POSSIBILITY!!!!!!!

[Agoura Guy]

BITCOIN IS GETTING HAMMERED $34,666... ON ITS WAY TO SUB $30K!!!!

[Agoura Guy]

MSTR $294.24 -20.28 (-6.45%)... SAYLOR BOY'S MARGIN CALLS COMING ACCORDING TO SOME NEWS ARTICLES!!!! OH MY!!!!!!

[350z]

https://decrypt.co/99504/gucci-begin-accepting-bitcoin-some-stores

[Esa]

What a bloodbath today