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MicroStrategy borrowed $205 million to buy more bitcoin.

BabaYaga

2022-04-01 (14:11:09)

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Michael Saylor goes balls deeper into Bitcoin.

MicroStrategy has reportedly borrowed $205 Million from a subsidiary of Silvergate Bank, the cryptocurrency-focused Silvergate Exchange Network (SEN).

The loan has been secured by Bitcoin in MicroStrategy’s collateral account. Besides buying more Bitcoin, the proceeds will also be used to cover fees related to loan transactions and general corporate costs.

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