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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 Paying off your loan in 3 years will cost 12% of the total repayments.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 explained the loan will help make MicroStrategy stronger for its future.

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