TechFlow news, Silvergate Bank has issued a $205 million term loan to MacroStrategy LLC, a subsidiary of MicroStrategy. The interest-only term loan is secured by certain bitcoin held in a collateral account at MacroStrategy, with the custodian jointly authorized by Silvergate and MacroStrategy.
MacroStrategy will use the loan proceeds to purchase bitcoin, pay fees, interest, and expenses related to the loan transaction, or for general corporate purposes of MacroStrategy or MicroStrategy. (Business Wire)
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