MicroStrategy (MSTR) said it has no assets held by Silvergate Capital (SI) and is not financially connected to the bank in any other way. In addition to loan repayments in 2025
“There is current market concern about Silvergate’s financial condition.” MicroStrategy said in a tweet Citing fears that Silvergate Bank may not be able to continue, “our bitcoin (BTC) collateral is not custody of Silvergate and we do not have any other financial relationship with Silvergate.”
The terms of the $205 million loan between MicroStrategy and Silvergate Bank, a wholly owned subsidiary of Silvergate Capital, have not changed, although Silvergate Bank is unable to publish annual reports.
MacroStrategy It received a $205 million loan from Silvergate Bank in March 2022 through the Silvergate Exchange Network (SEN) Leverage. The loan is due in the first quarter of 2025 and the timing will not change.
“We have a loan from Silvergate due through Q1 2025,” MicroStrategy said. We have confirmed that the loan will not be accelerated in the event of Silvergate’s bankruptcy.”
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