Asia’s MicroStrategy’s Metaplanet Gets ¥1 Billion Loan to Get More Bitcoin
Key receivers
Metaplanet secured a 1 billion yen loan at an incredibly low interest rate of 0.1% APR. Metaplanet's actions clearly demonstrate a strong commitment to Bitcoin as part of its corporate strategy.
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Metaplanet, a Japanese publicly traded company, announced today that it has secured a 1 billion yen loan against MicroStrategy. The entire amount of the loan is limited to the purchase of Bitcoin, a decision confirmed at the company's recent board of directors meeting.
The loan from MMXX Ventures Limited carries an interest rate of 0.1% per annum with a tenor of six months and is payable in one lump sum.
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 strong faith in Bitcoin by using both debt and equity financing to accumulate more BTC. The company's strategy is inspired by the MicroStrategy Bitcoin Playbook, which has been hoarding Bitcoin since 2020.
Metaplanet views Bitcoin as a long-term investment to hedge against currency depreciation, especially given Japan's economic challenges, including a declining yen and high government borrowing.
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