bitcoin MicroStrategy CEO Michael Saylor, who is frequently on the agenda with his purchases and support, announced that they received loans to buy more Bitcoin from his twitter account.
Bitcoin bull Saylor stated that MacroStrategy, a subsidiary of MicroStrategy, has purchased a $205 million Bitcoin-guaranteed loan from Silvergate Bank to purchase Bitcoin.
The loan in question was secured with some of the Bitcoins in MacroStrategy’s collateral account.
According to the loan agreement between MacroStrategy and Silvergate Bank, MacroStrategy will use the loan amount received “to buy Bitcoin, to pay fees, interest and expenses related to the loan transaction, or for MacroStrategy’s general corporate purposes.”
Michael Saylor, CEO of MicroStrategy, said in a statement:
“SEN Leverage lending gives us the opportunity to advance our leading position in Bitcoin.”
Silvergate Bank Chief Executive Officer Alan Lane said the following about the loan:
“We are excited to add MicroStrategy to our growing list of SEN Leverage borrowers.
MicroStrategy’s innovative approaches are an exceptional example of how institutions can use their Bitcoins to support and grow their businesses.”