Bitcoin

<ul><li>Metaplanet had plans to raise $70 million but took a $6.8 million loan from its shareholder.</li><li>MMXX Ventures charged 0.1% APR interest, initiating a six-month tenure from Aug 8.</li><li>Presently, Metaplanet has 246 BTC - worth $13.95 million at current market price.</li></ul>In the wake of <a href="https://cryptotale.org/metaplanet-inc-completes-significant-bitcoin-acquisition-eyeing-future-market-trends/" rel="noopener noreferrer nofollow">revealing plans to raise $70 million,</a> Metaplanet has procured a loan of about 1 billion yen, shocking the crypto world. Metaplanet, a Japanese investment firm was planning to gain amount via stock rights offering. However, it took a loan of about $6.8 million from MMXX Ventures - one of its shareholders - to buy more Bitcoin.MMXX Ventures charged the six-month loan term, initiating from August 8, 2024, with 0.1% APR to Metaplanet. Sharing the official statement on their <a href="https://twitter.com/Metaplanet_JP/status/1821339659638546531" rel="noopener noreferrer nofollow">X platform</a>, Metaplanet has revealed all factors of the loan, including the fact that the repayment method would be paid back in lump-sum. This move raised eyebrows, as Metaplanet had plans to allocate $58 million from the $70 million to Bitcoin investments.Critics state that if the entire $6.8 million is invested, Metaplanet would be able to procure an additional 118.5 Bitcoin, ranging at $57,337 in the current market price. Metaplanet emphasized that it will adopt an “entire range of capital market instruments” to reinforce its Bitcoin reserves, similar to MicroStrategy’s playbook. This strategy was undertaken to curb Japan&#39;s burden of debt and to control the fast-depreciating value of the Japanese yen.<a href="https://cryptotale.org/metaplanet-acquires-6-8m-loan-1b-yen-to-buy-more-bitcoin/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Metaplanet Acquires $6.8M Loan (1B Yen) to Buy More Bitcoin

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