Billionaire Bitcoin Bull Michael Saylor bet big on Bitcoin, and now he and his company are enduring the consequences as that bet has turned into a temporary $1.2 billion loss.

On his twitter account, followed by more than 2.5 million people, where he praises bitcoin almost every day, he is unworried however, saying, “When @MicroStrategy adopted a #Bitcoin Strategy, it anticipated volatility and structured its balance sheet so that it could continue to #HODL through adversity.” HODL is the crypto acronym for Hold On for Dear Life, meaning bet long.

MicroStrategy owns 129,218 Bitcoins. It had purchased 4,827 of them in Q1 at an average price of $44,645 each. The firm has spent about $3.97 billion on it’s bitcoin portfolio, and after Bitcoin’s recent drop, the portfolio is now worth $2.753 billion, a $1.2 billion loss.

In March, MicroStrategy raised $205 million from an interest-only loan from Silvergate bank that is collateralized by their bitcoin, raising questions with some over any potential margin call on the company’s bitcoin stash.

Saylor wrote on Twitter, “MicroStrategy has a $205M term loan and needs to maintain $410M as collateral. $MSTR has 115,109 BTC that it can pledge. If the price of #BTC falls below $3,562 the company could post some other collateral.”

The company has said that bitcoin would have to fall to $21,000 before there would be any chance of a margin all being made on the $205 million loan. However MicroStrategy said they can provide alternative collateral to satisfy the terms of the loan and prevent a call form being triggered.

Saylor has said absolutely there would be no margin call, however.

He wrote, “As long as the Silvergate loan remains collateralized with an LTV less than 50%, there is no margin call. We manage accordingly.”

Still, that is not helping the company’s stock price. MicroStrategy is down 71% for the year.