Bitcoin nears MicroStrategy ‘margin call’ price

A stock graph is seen with a representation of bitcoin in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterSINGAPORE, June 14 (Reuters) – Bitcoin neared a price level on Tuesday that could force software firm MicroStrategy Inc (MSTR.O) to stake more tokens against a bitcoin-backed loan or trigger selling of some of its vast holdings, setting fragile cryptocurrency markets on edge.MictroStrategy, an aggressive investor in bitcoin, said it borrowed $205 million from crypto bank Silvergate Capital (SI.N) in March, with the three-year loan mostly secured against some 19,466 bitcoins. …
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