Key points
- Metaplanet secured a 1 billion yen loan at a remarkably low interest rate of 0.1% APR.
- Metaplanet's actions clearly indicate a strong commitment to Bitcoin as part of its corporate strategy,
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Metaplanet, a publicly traded Japanese company often compared to MicroStrategy, Announced Today, the company has obtained a loan of 1 billion yen, the entire amount of which will be used to purchase bitcoins, a decision ratified at the company's latest board meeting.
The loan, obtained from MMXX Ventures Limited, carries an interest rate of 0.1% per annum with a term of six months and will be repaid in a single payment.
The announcement comes a day after the company Announced plans to raise approximately $70 million through a stock rights offering, with approximately $58 million earmarked specifically for Bitcoin investments.
Metaplanet has shown great confidence in Bitcoin by leveraging both debt and equity funding to accumulate more BTC. The company’s strategy is inspired by the Bitcoin playbook of MicroStrategy, which has been accumulating Bitcoin since 2020.
Metaplanet views Bitcoin as a long-term investment and a hedge against currency depreciation, particularly in light of Japan's economic challenges, including a depreciating yen and high levels of government debt.
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