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The Bitcoin-savvy software giant faced unexpected financial challenges due to Silvergate's banking collapse. Yet this surprising turn of events may not have been all doom and gloom.
(Bloomberg) -- MicroStrategy Inc., the biggest corporate owner of Bitcoin, paid off the remainder of its $205 million Bitcoin-backed loan from Silvergate Bank with proceeds from the sale of shares and purchased about $150 million more of the cryptocurrency. Most Read from BloombergSaudi National Bank Chair Resigns After Credit Suisse RemarkBinance and Its CEO Sued by CFTC Over US Regulatory ViolationsSchwab’s $7 Trillion Empire Built on Low Rates Is Showing CracksFirst Citizens to Buy SVB After
The company in March 2022 had borrowed $205 million from Silvergate Bank.