Metaplanet Inc. Acquires a $1 Billion Yen Loan for BTC Acquisition

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Metaplanet Inc acquires a 1 billion Yen loan from MMXX Ventures Limited for Bitcoin (BTC) acquisition.

The move is part of Metaplanet’s mission to adopt BTC as its strategic treasury reserve asset

Metaplanet also plans to raise approximately 10 billion Yen in September, with over 8 billion going to Bitcoin purchases.

Metaplanet Inc. announced on August 8 that it acquired a 1 billion Yen loan from MMXX Ventures Limited, one of its shareholders. The company will use the entire loan to buy Bitcoin and increase its holdings.

The loan has a 0.1% interest rate per annum and a term of 6 months from its execution date. Metaplanet chose a lump-sum repayment method.

Bitcoin’s price at the time of writing is $57,588. Metaplanet will acquire approximately 118.414 BTC as per BTC’s current market price. Data from Bitcoin Treasuries shows that Metaplanet Inc. currently owns 246 BTC as of July 22. #TONonBinance #XRPVictory #MarketDownturn #Babylon_Mainnet_Launch #BinanceHODLerBANANA $BTC $ETH $SOL