Published in Crypto
3 minutes read

One of the Worlds Largest Bitcoin Holders is About To Get Liquidated

According to the Internet.

One of the Worlds Largest Bitcoin Holders is About To Get Liquidated

Since 2020 the most recognisable face in Bitcoin has used money raised from stock and bond offerings to purchase 129,218 Bitcoin, which is currently worth $2.6Billion.

Michael Saylor, the former MicroStrategy CEO, could get margin called on a $250 Million securitised loan he took out to buy bitcoin.

He’s not even phased.

What the heck is a margin call? Well, It’s effectively a demand from your lender, brokerage or bank to increase your equity position when the value of the asset you’ve borrowed against drops significantly.

You’re then either required to pay money to increase your equity position or sell off assets to pay the loan.

To make matters worse, the quirky Nebraskan is currently getting sued by the District of Columbia (Washington D.C.) for allegedly conspiring to evade $25 million in district taxes.

Saylor is no stranger to being sued.

After the dot-com bubble burst in March 2000, MicroStrategy's stock had tumbled 62% in a single day after they announced accounting mistakes, erasing $6 billion from Saylor’s wealth.

At the time, the U.S. Securities and Exchange Commission brought and settled accounting charges against MicroStrategy, Saylor and other company executives.

Having his back to the wall is not unfamiliar territory for the Bitcoin maximalist whose elaborate predictions included bitcoin eventually becoming worth $100 trillion.

Equal to the whole circulating supply of money in the world right now.