Silvergate Bank reportedly issued a $205 million term loan to MicroStrategy subsidiary MacroStrategy LLC. The interest-only term loan was secured by individual bitcoins held in MacroStrategy collateralized accounts, with a custodian jointly authorized by Silvergate and MacroStrategy. MacroStrategy will use the loan proceeds to purchase Bitcoin, pay fees, interest, and expenses associated with the transaction, or for general corporate use by MacroStrategy or MicroStrategy.
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