Microstrategy pays off $205 million Silvergate loan, buys $150 million worth of bitcoin: SEC filing

Macrostrategy, which is a wholly-owned subsidiary of software firm Microstrategy, has paid off a $205 million loan to Silvergate Bank, according to a U.S. Securities and Exchange Commission filing created on March 24 and made accessible on Monday.

The loan was voluntarily paid off with a 22% discount after the crypto bank filed for liquidation earlier this year, according to the filing. After the discount, the firm paid $161 million before the March 2025 expiration of the loan term. According to the filing, the loan was collateralized by bitcoin BTCUSD held by MacroStrategy and $1.5 million in cash the firm held at Silvergate Bank.

The filing also highlights that between Feb. 16 and March 23, 2023, Microstrategy bought 6,455 bitcoin for approximately $150 million in cash, at an average price of $23,238 per token. As of March 23, the company held approximately 138,955 bitcoins, which is approximately $4.14 billion worth of bitcoin, according to the filing.

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Where did they get the money to pay off the loan?

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