MicroStrategy disclosed a $205m bitcoin-backed Silvergate loan in 2022

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Archive note: This article records a company filing dated 29 March 2022.

MicroStrategy disclosed that its subsidiary MacroStrategy had entered into a USD 205 million term loan with Silvergate Bank on 23 March 2022. The loan was secured by bitcoin and initially required a loan-to-collateral-value ratio of 50% or less. The filing said proceeds could be used to purchase bitcoin and for certain corporate purposes.

This was a leveraged corporate financing transaction, not evidence that borrowing to buy bitcoin is appropriate for other companies or individuals. Bitcoin price movements could affect collateral requirements.

Primary source: MicroStrategy Form 8-K.

This historical report is informational and not investment advice.

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