The post Metaplanet secures 1B yen loan to buy more Bitcoin appeared on BitcoinEthereumNews.com.

Just two days after revealing plans to raise $70 million via a stock rights offering, “Asia’s MicroStrategy” has taken a $6.8 million loan from one of its shareholders to buy more Bitcoin. Japanese investment firm Metaplanet has secured a 1 billion Japanese yen ($6.8 million) loan from one of its shareholders to buy more Bitcoin. The loan from MMXX Ventures — a Metaplanet shareholder — has a 0.1% interest rate per annum and a six-month term starting on Aug. 8. The company revealed in a statement that it will be paid back in a lump sum. If approximately 100% of the $6.8 million of the loan went toward Bitcoin, the firm would be able to buy an additional 118.5 Bitcoin (BTC) at current market prices. Read more Source: https://cointelegraph.com/news/metaplanet-secures-billion-yen-loan-to-buy-more-bitcoin?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

---

Filed under: News - @ August 8, 2024 4:26 pm