According to various estimates, the Celsius project has about $1.5 billion in crypto on various wallets. The company is still trying to keep from collapsing by replenishing its reserves.
According to Colin Wu's calculations, the company's margin call could come when BTC falls < $20,000 - 22,500. All these problems come after the collapse of the Luna coin and problems with algorithmic stablecoins. Is that the end for another crypto company?
Several crypto companies suffered a lot of losses when the bitcoin price crashed to the $20,000 area. The Celsius project may still survive bankruptcy as it still has around $1.5 billion in crypto and could replenish its reserves.According to Colin Wu's calculations, the company's margin call could come when BTC falls < $20,000 - 22,500. All these problems come after the collapse of the Luna coin and problems with algorithmic stablecoins. Is that the end for another crypto company?
But several other companies such as Microstrategy have previously announced that if the bitcoin price reaches <$21,000 it will trigger a "margin call".
Bitcoin today dropped to a low of $20,816 which would normally be a “margin call”, but microstrategy stated that last May the company had 95,643 unencumbered BTC that could be used as additional collateral to avoid a “margin call” from occurring. so it's still safe.
Somehow with other companies or countries that received bitcoin for the first time like EL Salvador, of course they suffered a lot of losses too. Will EL Salvador buy cheap again or are you still thinking about borrowing money? still not yet clear.
Currently the Bitcoin price is crashing, but the Gold price continues to rise.
