Metaplanet Expands Bitcoin Holdings, Acquires Additional 500 Million Yen Worth of BTC
CryptoNewsTerminal Staff19 Aug, 2024
Metaplanet Expands Bitcoin Holdings, Acquires Additional 500 Million Yen Worth of BTC
Metaplanet, a Japanese company that considers Bitcoin its primary asset, recently announced the purchase of an additional 500 million yen (approximately $4.6 million) worth of BTC. This move increases Metaplanet's total Bitcoin holdings to approximately 360 BTC, with an estimated value of $23.5 million. To facilitate this acquisition, Metaplanet revealed plans to issue convertible bonds worth 10 billion yen and secure a loan of 1 billion yen at a low interest rate of 0.1%. These funds will primarily be utilized to bolster Metaplanet's Bitcoin reserves. Metaplanet's decision to allocate significant resources to Bitcoin underscores their firm belief in the cryptocurrency's long-term potential. As the global digital asset market continues to evolve, Metaplanet's strategic investment positions them to capitalize on future growth opportunities within the cryptocurrency space.
