Japanese investment firm Metaplanet has secured a $6.8 million loan to increase its Bitcoin holdings, reflecting its bullish stance on the cryptocurrency’s future. The announcement comes amid strategic financial maneuvers and market volatility.
Japanese Metaplanet Provided $6.8 Million Loan for Bitcoin Purchase
Metaplanet, an investment firm listed on the Tokyo Stock Exchange, received a loan of 1 billion yen ($6.8 million) at a very low interest rate of 0.1% per year.
In its statement today, the company announced that most of these funds will be directed to the purchase of additional Bitcoin, underlining its confidence in the long-term value of the cryptocurrency.
Metaplanet outlined its strategy in a statement: “We plan to allocate almost the entire loan amount to the purchase of Bitcoin.
Our basic policy is to hold Bitcoin for the long term; However, if we use Bitcoin for operations, the relevant Bitcoin balance will be recorded as a current asset on the balance sheet.
This announcement comes after Metaplanet announced on Tuesday that it would allocate 10 billion yen ($68.4 million) in stock acquisition rights.
The company stated that a significant portion of these funds will also be used to purchase Bitcoin, reinforcing its commitment to the cryptocurrency.
“Keeping Bitcoin as a core asset is consistent with Metaplanet's long-term growth strategy and is expected to significantly increase the company's profitability and enterprise value,” the firm said.
Metaplanet's move to adopt Bitcoin as a strategic treasury reserve asset first emerged in May amid Japan's economic challenges, including high government debt, prolonged negative real interest rates and a weak yen.
*This is not investment advice.
