{"id":581507,"date":"2023-03-27T15:17:17","date_gmt":"2023-03-27T14:17:17","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=581507"},"modified":"2023-03-27T15:17:25","modified_gmt":"2023-03-27T14:17:25","slug":"microstrategy-bitcoin-repay-silvergate","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/microstrategy-bitcoin-repay-silvergate\/","title":{"rendered":"MicroStrategy Splurges $150 Million On Bitcoin, Repays $205 Million Silvergate Loan At 22% Discount"},"content":{"rendered":"\n<p>Summary: <\/p>\n\n\n\n<ul><li>MicroStrategy bolstered its Bitcoin bag with a 6,455 BTC purchase worth around 150 million at today&#8217;s prices.<\/li><li>Former CEO Michael Saylor noted that the company also repaid its $205 million Bitcoin-collateralized loan at a 25% discount.<\/li><li>Saylor\u2019s digital asset firm now holds around 138,955 BTC worth approximately $4.14 billion.<\/li><\/ul>\n\n\n\n<p>Digital asset powerhouse MicroStrategy recently bought more Bitcoin for $150 million and repaid its BTC-collateralized loan to troubled crypto-friendly bank Silvergate, per a <a href=\"https:\/\/t.co\/dz6XH9pr7Y\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/t.co\/dz6XH9pr7Y\" rel=\"noreferrer noopener nofollow\">filing<\/a> with the U.S. Securities and Exchange Commission. <\/p>\n\n\n\n<p>The company scooped up some 6,455 BTC at an average price of $23,238 per Bitcoin, adding to its already massive BTC portfolio that boasts 138,955 BTC worth a staggering $4.14 billion. The latest buy brings MicroStrategy&#8217;s average buy price to around $29,817 per Bitcoin. <\/p>\n\n\n\n<p>Former CEO Michael Saylor also confirmed that the BTC-savvy software maker repaid its $205 million loan to the troubled U.S. bank Silvergate. MicroStrategy secured a $205 million Bitcoin-collateralized loan in April 2022. The loan was <a href=\"https:\/\/en.ethereumworldnews.com\/microstrategy-buy-109-million-bitcoin\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/en.ethereumworldnews.com\/microstrategy-buy-109-million-bitcoin\/\" rel=\"noreferrer noopener\">agreed<\/a> upon through a subsidiary entity MacroStrategy and the terms of the loan allowed Saylor&#8217;s company an early payback. <\/p>\n\n\n\n<p>On Monday, Saylor announced that Microstrategy repaid the San Diego-based Silvergate Bank at a 22% discount. The early repayment reportedly left the beleaguered bank with $45 million in losses in addition to the crisis sweeping the traditional banking system in the U.S. and the broader global economy. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">MicroStrategy repaid its $205M Silvergate loan at a 22% discount. As of 3\/23\/23, <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$MSTR<\/a> acquired an additional ~6,455 bitcoins for ~$150M at an average of ~$23,238 per <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#bitcoin<\/a> &amp; held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin. <a href=\"https:\/\/t.co\/ALp9VLkTpt\" rel=\"nofollow\">https:\/\/t.co\/ALp9VLkTpt<\/a><\/p>&mdash; Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1640325496654143488?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">March 27, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Back in August 2020, Saylor&#8217;s firm parked its first set of capital in crypto&#8217;s leading coin and largest asset by market cap &#8211; BTC. The company has grown its Bitcoin vault to one of the single largest holders of BTC since August, deploying hundreds of millions of dollars in crypto&#8217;s top asset and securing key loans to expand its crypto portfolio. <\/p>\n\n\n\n<h2>Michael Saylor Quits CEO Role At MicroStrategy <\/h2>\n\n\n\n<p>The public Bitcoin proponent and entrepreneur stepped down as CEO of MicroStrategy amid an exodus of C-suite execs in 2022. Saylor resignation <a href=\"https:\/\/www.forbes.com\/sites\/johnhyatt\/2022\/05\/11\/amid-crypto-plunge-longtime-bitcoin-bull-michael-saylor-falls-from-billionaire-ranks\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.forbes.com\/sites\/johnhyatt\/2022\/05\/11\/amid-crypto-plunge-longtime-bitcoin-bull-michael-saylor-falls-from-billionaire-ranks\/\" rel=\"noreferrer noopener\">supposedly<\/a> caused an uproar as his company posted a $1 billion loss in Q2 2022, largely due to $917 million in impairment charges on its large Bitcoin holdings. <\/p>\n\n\n\n<p>At the time, the crypto industry was starring down the mainstream media barrel as industry stakeholders tumbled and DeFi protocol suffered massive hacks. <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img width=\"851\" height=\"518\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/BTCUSDT_2023-03-27_15-13-25.png\" alt=\"\" class=\"wp-image-581510\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/BTCUSDT_2023-03-27_15-13-25.png 851w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/BTCUSDT_2023-03-27_15-13-25-300x183.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/BTCUSDT_2023-03-27_15-13-25-770x469.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/BTCUSDT_2023-03-27_15-13-25-269x164.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/03\/BTCUSDT_2023-03-27_15-13-25-746x454.png 746w\" sizes=\"(max-width: 851px) 100vw, 851px\" title=\"\"><figcaption><strong><a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" rel=\"noreferrer noopener\">BTC\/USDT by TradingView<\/a><\/strong><\/figcaption><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: MicroStrategy bolstered its Bitcoin bag with a 6,455 BTC purchase worth around 150 million at today&#8217;s prices. Former CEO Michael Saylor noted that the company also repaid its $205 million Bitcoin-collateralized loan at a 25% discount. Saylor\u2019s digital asset firm now holds around 138,955 BTC worth approximately $4.14 billion. Digital asset powerhouse MicroStrategy recently bought more Bitcoin for $150 million and repaid its BTC-collateralized loan to troubled crypto-friendly bank Silvergate, per a filing with the U.S. Securities and Exchange [&hellip;]<\/p>\n","protected":false},"author":55,"featured_media":581511,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800,2],"tags":[108421,108189,108185],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581507"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=581507"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581507\/revisions"}],"predecessor-version":[{"id":581512,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581507\/revisions\/581512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/581511"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=581507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=581507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=581507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}