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.
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“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.
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“On a multibillion-dollar balance sheet, we’ve only got a $200 million loan that we have to collateralize and we’re 10x over collateralized on that right now,” Saylor added.
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Saylor also 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.”
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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 “the securities market is very volatile,” and that the company’s investors are very aware of its bitcoin-focused strategy.
Read more: MicroStrategy Defended at BTIG; Saylor Not Expecting Imminent Margin Call
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