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MicroStrategy subsidiary will purchase Bitcoin after closing $205M crypto-collateralized loan
MacroStrategy, a subsidiary of business intelligence firm MicroStrategy, said it will purchase Bitcoin after obtaining a multimillion dollar loan from Silvergate Bank. In a Tuesday announcement, MicroStrategy said Silvergate issued a $205 million loan “secured by certain Bitcoin held in MacroStrategy’s collateral account.” The firm’s subsidiary MacroStrategy will be using the proceeds of the loan to purchase Bitcoin (BTC), pay fees and interest related to the loan and handle general corporate expenses. “The SEN Leverage loan gives us an opportunity to further our position as the leading public company investor in Bitcoin,” said MicroStrategy CEO Michael Saylor. “Using the capital from the loan, we’ve effectively turned our Bitcoin into productive collateral, which allows us to furthe...
Binance buys the dip adding over 43K Bitcoin to wallet
Bitcoin billionaires continue to accumulate during the dip. As Bitcoin (BTC) filled the $42 thousand December price wick this morning, Bitcoin whales were busy stacking sats. One address belonging to Binance added 43,000 BTC on Tuesday at an average price of $46,553.68, bringing the wallet’s total value to $5.5 billion. Elsewhere, the third-largest Bitcoin address continued its spending spree, adding another 551 BTC since Cointelegraph last reported it bought the dip, just two days ago. The wallet continues to aggressively accumulate in the $40 thousand range, now owning a total of 121,396 BTC or roughly $5 billion. There was some consternation on social media platforms about the wallet owner behind the $43,000 BTC buy, but Binance confirmed ownership of the address in a tw...
