March 30, 2022

A billionaire takes on a $205 million loan to buy more bitcoins!

A business analytics software firm, MicroStrategy, is taking a $205 million loan to buy more bitcoin. Michael Saylor’s real-time net worth as of March 30th, 2022, is $2 billion.

The agreement is between MicroStrategy and Silvergate Bank to take a $204.7 million loan.

Saylor wants to hold approximately 12% with a three-year loan secured by around $820 million in bitcoin.

The agreement calls for at least $410 million in bitcoin to be held in collateral, assuming the entire $205 million is still available.

MicroStrategy holds approximately 125,051 bitcoins at present. Silvergate surges to $78.5 million in profit in 2021.

Michael stated that the loan gives MicroStrategy an opportunity to grow and strengthen its position in the market for the future.

This week, Bitcoin increased by 1% to $47,803!