- Metaplanet said it negotiated a $6.8 million loan “with the entire amount allocated for purchasing bitcoin.”As of the start of July, Metaplanet held a total of 161.3 BTC ($9.2 million).
According to their official statement online, the company headquartered in Tokyo disclosed that they obtained a loan from MMXX Ventures, which is based in the British Virgin Islands. The entire sum was earmarked for buying bitcoin. This six-month loan comes with an annual interest rate of 0.1%.
Starting in May, Metaplanet announced their decision to keep bitcoin as a protective asset to counterbalance the fluctuations of the Japanese Yen. By early July, they had amassed a total of 161.3 Bitcoins, equivalent to approximately $9.2 million.
The business approach taken by the company resembles MicroStrategy’s (MSTR), a software developer, which has been purchasing Bitcoin for approximately four years now and currently owns over 226,000 Bitcoins, making up more than 1% of the total supply that will ever circulate.
On Thursday, Metplanet stock concluded at approximately $6.10 (893 yen), a 20% increase compared to its opening price, as Japanese equities persisted in rebounding from the previous week’s market downturn following the Bank of Japan’s interest rate rise.
Read More
- ACT PREDICTION. ACT cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- Skull and Bones Players Report Nerve-Wracking Bug With Reaper of the Lost
- W PREDICTION. W cryptocurrency
- NBA 2K25 Review: NBA 2K25 review: A small step forward but not a slam dunk
- Why has the smartschoolboy9 Reddit been banned?
- AAVE PREDICTION. AAVE cryptocurrency
- Understanding Shinjiro: The Persona 3 Character Debate
- Unlocking Destiny 2: The Hidden Potential of Grand Overture and The Queenbreaker
- ESO Werewolf Build: The Ultimate Guide
2024-08-08 13:25