MicroStrategy Raises $205M in Debt Funding to Buy Bitcoin
MicroStrategy’s MacroStrategy division has received a $205 million loan secured by its own crypto assets, as stated in the official press release.
The loan was issued by the American bank Silvergate and the purpose of the loan is to buy Bitcoins.
MacroStrategy is not the only company that provides crypto assets as collateral. For this type of loans, the bank has a special SEN Leverage program, the total amount of obligations under which has already exceeded $570 million. Michael Saylor, CEO of MicroStrategy, has commented:
“The SEN Leverage loan provides an opportunity to strengthen our position as a leader among public companies investing in bitcoin.”
According to the Bitcoin Treasuries website, MicroStrategy owns 125,051 BTC worth nearly $6 billion.
The last time the company invested in Bitcoin was in February, when it bought $25 million in BTC.