“Bitcoin needs to cut in half for around $21,000 before we’d have a margin call,” MicroStrategy president Phong Les said in May during an earnings call. But that’s exactly what happened. In the two months since MicroStrategy’s latest bitcoin purchase, the cryptocurrency lost more than half of its value. As of June 14, MicroStrategy has lost $1.1 billion on its bitcoin bet and now may have to post more collateral on their loan.

Quartz: The biggest corporate holder of bitcoin is facing a reckoning.
https://qz.com/2177569/the-biggest-corporate-holder-of-bitcoin-is-facing-a-reckoning/