Programming company MicroStrategy (MSTR.O) said on Wednesday that it has not received a margin call against its bitcoin-backed holdings, and it has a lot of other guarantees to make if needed.
In March, MicroStrategy bought $205 million from the cryptocurrency bank Silvergate Capital (SI.N), which was generally against bitcoin.
On Tuesday, the price of bitcoin briefly fell below a level that organization officials said could lead to more capital needs.
“MicroStrategy hasn’t gotten an “edge call” on any of our Silvergate credits, even though bitcoin prices have been going up and down recently,” the company said in a message.
“We can always give more bitcoins to keep up with the expected ratio of advance to value… In fact, even at current prices, we keep getting more unpledged bitcoins than we need to meet our needs under the advance agreement.
On February 7, 2021, the Bitcoin logo can be seen in a store in Marseille, France.