Metaplanet Secures $6.8M Loan for Bitcoin Investment

<h1 class="d-none">Metaplanet Secures $6.8M Loan for Bitcoin Purchase</h1> <h2 class="d-none">title: Metaplanet Strategic Shift: Leveraging Bitcoin Investments</h2> Metaplanet Secures $6.8M Loan for Bitcoin Purchase

Metaplanet secures a $6.8M loan from MMXX Ventures to buy more Bitcoin, with a 0.1% annual interest rate and a six-month term.

The loan follows Metaplanet's announcement to raise $70M via a stock rights offering, with $58M allocated to Bitcoin investments.

Metaplanet has bought 246 Bitcoin so far, worth $13.95M at current market prices, with an average purchase price of $65,145.

The company's stock price has surged 290% since announcing its Bitcoin plan in April but fell after the recent cryptocurrency market dip.

Metaplanet adopts Bitcoin to hedge against Japan's worsening debt and the depreciating yen, aiming to improve its financial stability.

CEO Simon Gerovich highlights Bitcoin as a strategic asset to revitalize Metaplanet, shifting to a growth-focused firm.

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