• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Tuesday, September 26, 2023
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

MicroStrategy subsidiary obtains $205M loan from Silvergate to buy more Bitcoins

News
by Kurt Ebenzer
29 March 2022
MicroStrategy subsidiary obtains $205M loan from Silvergate to buy more Bitcoins

Source: Unsplash

Share on FacebookShare on Twitter

With plans to add more Bitcoins to its balance sheet, business intelligence firm MicroStrategy’s subsidiary MacroStrategy has now acquired a loan of $205 million from Silvergate Bank, the banking unit of Silvergate Capital Corporation.

According to the latest announcement, the loan was obtained through Silvergate’s Exchange Network (SEN) Leverage program, which offers access to capital through U.S. dollar loans collateralized by bitcoin. MacroStrategy has obtained the funds by collateralizing $820 million worth of bitcoin for the interest-only term loan.

Michael Saylor, Chairman and Chief Executive of MicroStrategy, said in the press release:

“The SEN Leverage loan gives us an opportunity to further our position as the leading public company investor in bitcoin. Using the capital from the loan, we’ve effectively turned our bitcoin into productive collateral, which allows us to further execute against our business strategy.”

Nasdaq-listed firm MicroStrategy is presently one of the most, if not the most, bullish corporate investors of Bitcoin. The company holds more than 125,051 bitcoins following the acquisition of 660 Bitcoins during this year’s January market crash.

“As of January 31, 2022, the Company held approximately 125,051 bitcoins that were acquired at an aggregate purchase price of $3.78 billion and an average purchase price of approximately $30,200 per bitcoin,” a regulatory filing by the company revealed at the time.

Silvergate Bank made headlines earlier last month after purchasing the intellectual property rights and other technology assets of Meta’s dissolved stablecoin project Diem.

MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTRhttps://t.co/bF6VImC0Qy

— Michael Saylor⚡️ (@saylor) February 1, 2022

Previous Post

Do Kwon’s Bitcoin stash pumps LUNA to all-time high of $107

Next Post

Binance Labs unveils strategic investment in Aptos Labs

Kurt Ebenzer

Kurt Ebenzer

Kurt is an experienced writer with vast experience in documentation and interpretive math. His path to crypto journalism starts with Ourbitcoinnews and he hopes to shine new light in the noisy crypto media space.

Related Posts

Dogecoin soars 10% ── Expected to be adopted by “X” | CoinDesk JAPAN | Coin Desk Japan

Dogecoin soars 10% ── Expected to be adopted by “X” | CoinDesk JAPAN | Coin Desk Japan

by Damien Martin
25 July 2023

Dogecoin (DOGE) rose for a second straight day on speculation that the memecoin will play a bigger role in the...

“Bitcoin / Web3 is necessary in the world” Hiroyuki × Yuzo Kano WebX special dialogue decision

Hiroyuki x Yuzo Kano Special Talk Report “Does Bitcoin/Web3 Need in the World?” | WebX Conference

by Kurt Ebenzer
25 July 2023

Focus on building emerging technologies Web3 and Bitcoin are said to be one of the hottest topics in the world,...

U.S. SEC Chairman Requests 10 Billion Yen Budget Increase, Including Support for Virtual Currency

US District Court Announces Date in Coinbase v. SEC Case

by Kurt Ebenzer
25 July 2023

Provide due dates for petitions and legal advice letters U.S. District Judge Catherine Polka Faira announced the upcoming schedule for...

No Result
View All Result

Recent Posts

  • Dogecoin soars 10% ── Expected to be adopted by “X” | CoinDesk JAPAN | Coin Desk Japan
  • Hiroyuki x Yuzo Kano Special Talk Report “Does Bitcoin/Web3 Need in the World?” | WebX Conference
  • US District Court Announces Date in Coinbase v. SEC Case
  • U.S. Ripple’s CTO highly evaluates the potential of real asset tokenization | WebX Conference
  • HashPort Group concludes basic agreement with KDDI to consider comprehensive collaboration in 3 Web areas | CoinDesk JAPAN | Coin Desk Japan
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News