Early last month, MicroStrategy CTO Phong Lee assured concerned shareholders that the largest Bitcoin headline among publicly traded companies had nothing to worry about as another Crypto Winter approached. \u201cEssentially, Bitcoin needs to halve, or around $21,000, before we get a margin call.\u201d Lee told investors on a quarterly earnings call. \nIt seems that the day that was once unthinkable has already arrived.\nEarly this morning, the price of Bitcoin briefly fell below $21,000, hitting a 52-week low, before recovering to a price of $22,260 at the time of writing. The price drop marks a significant line in the sand for MicroStrategy, which got a $205 million loan in March from Silvergate Bank to store Bitcoin. If BTC falls and remains below $21,000, the event would trigger a margin call on MicroStrategy's loan, a potentially disastrous event that would require the company to dump tens of thousands of Bitcoins in the already bear market. by the company latest earnings reportMicroStrategy currently holds 129,218 BTC. \n\nAnd yet this morning, MicroStrategy CEO Michael Saylor took to Twitter to double down on his company's Bitcoin game, stating that he and MicroStrategy are ready to weather this and much more serious market storms to come: \n\n\nThe Silvergate loan requires $410 million in collateral. According to Saylor, even if the price of Bitcoin were to settle below $21,000, triggering a margin call on the loan, MicroStrategy holds enough additional BTC as collateral. Only if the price of Bitcoin fell below $3,562 would that additional supply of BTC be insufficient to guarantee the loan. saylor has previously claimed that in such a case, MicroStrategy has further guarantees at its disposal. \n\nGive me a lever long enough and #bitcoin where to put it, and I will move the world.\n\u2014Michael Saylor\u26a1\ufe0f (@saylor) March 29, 2022\n\nThe fact that, just a month ago, MicroStrategy's CTO tried to convince shareholders that today's events would never come speaks to the current volatility of the crypto market and the unpredictability of when it will bottom out.\nIf the price of Bitcoin were ever to drop low enough that MicroStrategy could not hold $410 million in loan collateral, the company would be forced to start selling large amounts of Bitcoin at once to pay off the loan, an event that it would probably plummet further. the price of cryptocurrency, and potentially send disastrous ripple effects throughout the broader crypto market.\n\nSaylor and MicroStrategy are confident, publicly at least, that day will never come. The market seemed to buy into it: Shares of the company are up nearly 3% today, after plummeting 54% during last month's crypto meltdown.\nDo you want to be a crypto expert? Get the best of Decrypt straight to your inbox.Get the biggest crypto news stories + weekly recaps and more!