THELOGICALINDIAN - Nasdaqlisted Microstrategy has acquired a 205 actor bitcoincollateralized accommodation from Silvergate Bank through a accessory to buy added bitcoin The interestonly appellation accommodation is anchored by assertive bitcoin captivated in Macrostrategys accessory account
Company to Use $205M Bitcoin-Backed Loan to Purchase Bitcoin
The Nasdaq-listed pro-bitcoin software aggregation Microstrategy appear Tuesday that one of its subsidiaries has acquired a bitcoin-backed accommodation to acquirement added BTC.
Microstrategy CEO Michael Saylor tweeted Tuesday:
Silvergate Bank “has issued a $205 actor appellation accommodation beneath its Silvergate Exchange Network (SEN) Leverage affairs to Macrostrategy LLC,” Microstrategy detailed.
“The interest-only appellation accommodation is anchored by assertive bitcoin captivated in Macrostrategy’s accessory annual with a babysitter mutually accustomed by Silvergate and Macrostrategy,” the aggregation noted.
Under the acceding of the agreement, Macrostrategy will use the accommodation gain to acquirement bitcoins, pay fees, interest, and costs accompanying to the accommodation transaction, or for its or its ancestor company’s accepted accumulated purposes.
SEN Leverage, launched in 2024, provides institutional-grade admission to basic through U.S. dollar loans collateralized by bitcoin.
“The SEN Leverage accommodation gives us an befalling to added our position as the arch accessible aggregation broker in bitcoin,” Saylor commented, elaborating:
Microstrategy has already acquired 125,051 BTC for its treasury. “Our action with bitcoin has been to buy and hold, so to the admeasurement we accept balance banknote flows or we acquisition added means to accession money, we abide to put it into bitcoin,” the company’s arch banking administrator explained.
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