Metaplanet Increases BTC Holdings With $46M Purchase
CryptoNewsTerminal Staff12 Aug, 2024
Metaplanet Increases BTC Holdings With $46M Purchase
Metaplanet, a publicly traded Japanese company with a significant stake in Bitcoin, has announced the purchase of an additional $46 million in BTC, increasing its total holdings to approximately $18 million.
The company stated that it purchased 500 million yen ($46 million) worth of BTC, bringing its total holdings to roughly 303 BTC. This move comes shortly after Metaplanet revealed plans to issue convertible bonds (BW) worth 10 billion yen and secure a 1 billion yen loan at a meager 0.1% interest rate to acquire more BTC.
Metaplanet's commitment to acquiring BTC underscores the growing institutional interest in digital assets. The company's decision to allocate a substantial portion of its assets to Bitcoin reflects its belief in the long-term value and potential of cryptocurrency.
