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Metaplanet Secures 1 Billion Yen Loan at 0.1% APR from MMXX Ventures to Boost Bitcoin Holdings

Aug 12, 2024, 08:36 PM

Japanese investment firm Metaplanet has secured a 1 billion yen loan, equivalent to $6.8 million, at an interest rate of 0.1% APR from shareholder MMXX Ventures to increase its Bitcoin holdings. The firm is using the loan to purchase Bitcoin, following a $68 million stock offering aimed at bolstering its cryptocurrency assets. Metaplanet's recent purchase includes an additional 500 million yen worth of Bitcoin, bringing its total holdings to approximately 303 BTC, valued at around 2.95 billion yen. This move aligns with a broader strategy to leverage Japan's low interest rates, similar to tactics employed by other companies such as MicroStrategy.