{"id":63280,"date":"2022-03-30T09:02:07","date_gmt":"2022-03-30T09:02:07","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=63280"},"modified":"2022-03-30T09:02:07","modified_gmt":"2022-03-30T09:02:07","slug":"nasdaq-listed-microstrategy-obtains-205-million-bitcoin-backed-loan-to-buy-more-btc","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=63280","title":{"rendered":"Nasdaq-Listed Microstrategy Obtains $205 Million Bitcoin-Backed Loan to Buy More BTC"},"content":{"rendered":"

\"Nasdaq-Listed<\/p>\n

Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silvergate Bank through a subsidiary to buy more bitcoin. \u201cThe interest-only term loan is secured by certain bitcoin held in Macrostrategy\u2019s collateral account.\u201d
<\/strong><\/p>\n

Company to Use $205M Bitcoin-Backed Loan to Purchase Bitcoin<\/h2>\n

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<\/a>.<\/p>\n

Microstrategy CEO Michael Saylor tweeted Tuesday:<\/p>\n

\n

Macrostrategy, a subsidiary of Microstrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase bitcoin.<\/p>\n<\/blockquote>\n

Silvergate Bank \u201chas issued a $205 million term loan under its Silvergate Exchange Network (SEN) Leverage program to Macrostrategy LLC,\u201d Microstrategy detailed.<\/p>\n

\u201cThe interest-only term loan is secured by certain bitcoin held in Macrostrategy\u2019s collateral account with a custodian mutually authorized by Silvergate and Macrostrategy,\u201d the company noted.<\/p>\n

Under the terms of the agreement, Macrostrategy will use the loan proceeds to purchase bitcoins, pay fees, interest, and expenses related to the loan transaction, or for its or its parent company\u2019s general corporate purposes.<\/p>\n

SEN Leverage, launched in 2020, provides institutional-grade access to capital through U.S. dollar loans collateralized by bitcoin.<\/p>\n

\u201cThe SEN Leverage loan gives us an opportunity to further our position as the leading public company investor in bitcoin,\u201d Saylor commented, elaborating:<\/p>\n

\n

Using the capital from the loan, we\u2019ve effectively turned our bitcoin into productive collateral, which allows us to further execute against our business strategy.<\/p>\n<\/blockquote>\n

Microstrategy has already acquired<\/a> 125,051 BTC<\/a> for its treasury. \u201cOur strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flows or we find other ways to raise money, we continue to put it into bitcoin,\u201d the company\u2019s chief financial officer explained.<\/p>\n

Do you think more companies should obtain bitcoin-backed loans to buy more bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silvergate Bank through a subsidiary to buy more bitcoin. \u201cThe interest-only term loan is secured by certain bitcoin held in Macrostrategy\u2019s collateral account.\u201d 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 […]<\/p>\n","protected":false},"author":2,"featured_media":63281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-63280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/63280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63280"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/63280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/63281"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}