Locked And Loaded: MicroStrategy Takes $200M Loan To Buy Bitcoin
Software company MicroStrategy is read to buy the Bitcoin dip. According to a press release, the company took a $205 million loan from Silvergate Bank, a financial solution provider for the crypto industry. Related Reading | Wasabi’s Side Of The Story: Reasons For Blacklisting Certain BTC From CoinJoin The company took the loan via MacroStrategy, […]
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Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silvergate Bank through a subsidiary to buy more bitcoin. “The interest-only term loan is secured by certain bitcoin held in Macrostrategy’s collateral account.”
Company to Use $205M Bitcoin-Backed Loan to Purchase Bitcoin
The Nasdaq-listed pro-bitcoin software company Microstrategy announced Tuesday that one of its subsidiaries has obtained a bitcoin-backed loan to purchase additional BTC.
Microstrategy CEO Michael Saylor tweeted Tuesday:
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Another day, another MicroStrategy bitcoin buy. The Michael Saylor-led company is relentless in its BTC accumulation strategy. In a similar position, the bitcoin mining giant Marathon Digital Holdings doubles down on its no-selling policy. Which is also a BTC accumulation strategy. Will these two giants go down in history as pioneers? Related Reading | Treasury Management Firm Says CFOs Avoid Risk, Bitcoin Won’t Become Corporate Vehicle These companies are adopting the Bitcoin Standard as a way of life. Let’s look at MicroStrategy and Marathon’s stats, where do these new acquisitions....
MicroStrategy has proved it is not slowing down anytime soon when it comes to buying bitcoin. Not long after news broke that the firm had taken a $200 million loan to purchase bitcoin, it has made its first announcement that it has purchased BTC presumably using the loan it had secured earlier. This latest purchase […]
The price of Bitcoin is $47,806 at the time of publication, making MicroStrategy's current 125,051 BTC holdings worth roughly $6 billion. MacroStrategy, a subsidiary of business intelligence firm MicroStrategy, said it will purchase Bitcoin after obtaining a multimillion dollar loan from Silvergate Bank.In a Tuesday announcement, MicroStrategy said Silvergate issued a $205 million loan “secured by certain Bitcoin held in MacroStrategy’s collateral account.” The firm's subsidiary MacroStrategy will be using the proceeds of the loan to purchase Bitcoin (BTC), pay fees and interest related to....
The CEO of the Nasdaq-listed software company Microstrategy has debunked the rumor that his company is facing a margin call for a bitcoin-backed loan and will be forced to sell some coins. If the price of the cryptocurrency “falls below $3,562 the company could post some other collateral,” the executive explained.
Microstrategy Hasn’t Received a Margin Call
Microstrategy CEO Michael Saylor debunked the rumor that his company is close to having to liquidate its bitcoin to meet a margin call for a bitcoin-backed loan. The rumor intensified as the price of BTC....