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MicroStrategy Says It Doesn’t Have Any Assets Custodied With Silvergate

Business software company Microstrategy (MSTR) said it has no assets custodied with Silvergate Capital (SI) and is in no other way financially linked to the bank other than a commitment to repay a loan in 2025, the company said on Thursday.

“There are market concerns regarding Silvergate’s financial condition,” MicroStrategy said in a tweet, referring to fears that the crypto–focused bank may not be able to continue as a “going concern” after it had to delay its 10-K filing. “Our bitcoin (BTC) collateral isn’t custodied with Silvergate and we have no other financial relationship with Silvergate.”

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