Japanese investment firm Metaplanet Inc. has secured a $6.8 million loan to purchase additional Bitcoin as it remains bullish on the cryptocurrency’s long-term value.
Tokyo listed company announce At today’s board meeting, we resolved to secure a total loan of 1 billion yen (6.8 million dollars) at an annual interest rate of 0.1%.
“We plan to allocate almost the entire loan amount to Bitcoin purchases,” Metaplanet said. “Our basic policy is Bitcoin Bitcoin
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The announcement came from the company on Thursday. said announced plans to allocate 10 billion yen ($68.4 million) worth of stock options free of charge on Tuesday. “Most of the funds raised will be strategically allocated to the purchase of bitcoin,” it said. said When submitting.
“Holding Bitcoin as a core asset is consistent with Metaplanet’s long-term growth strategy and is expected to significantly enhance the company’s profitability and enterprise value,” the company added.
In May, the company announced that it had begun accepting Bitcoin as its asset. Strategic Financial Reserve Assets“This action is a direct response to Japan’s ongoing economic pressures, particularly its high levels of government debt, its prolonged period of negative real interest rates, and the resulting weakness in the yen,” the company said at the time.
Metaplanet’s stock price closed up 20.2% on Thursday. The Japanese stock market had its worst day since 1987 on Monday, with the Nikkei 225 index plunging 12.4%. The Nikkei closed down 0.74% today.
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