BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Metaplanet Approved to Buy 1 Billion Yen ($6.8 Million) Worth of Bitcoin

by Sham
August 8, 2024
in BUSINESS, CRYPTO
Reading Time: 2 mins read
A A
1
SHARES
16
VIEWS
Share on XShare in TelegramShare on Reddit

• Metaplanet said it negotiated a $6.8 million loan “with the entire amount allocated for purchasing bitcoin.”
• As of the start of July, Metaplanet held a total of 161.3 BTC ($9.2 million).
• The company’s strategy mimics that of software developer MicroStrategy (MSTR), which has been acquiring bitcoin for over four years and holds in excess of 226,000 BTC.

Japanese investment adviser Metaplanet recently arranged a loan to purchase more Bitcoin, continuing its strategy of adopting the cryptocurrency as a reserve asset.

ICYMI: 🇯🇵 Metaplanet has secured a ¥1 billion ($6.8 million) loan to buy #Bitcoin pic.twitter.com/YN9TK3nAnn

— BlockNews.com (@blocknewsdotcom) August 8, 2024

Metaplanet Secures Loan for Bitcoin Purchase

Metaplanet arranged a 1 billion yen ($6.8 million) loan from shareholder MMXX Ventures, with the full amount allocated for buying bitcoin. The Tokyo-based company borrowed the money for six months at a 0.1% annual interest rate.

Adopting Bitcoin as a Reserve Asset

In May, Metaplanet announced it would use Bitcoin as a reserve asset to hedge against yen volatility. By early July, it held 161.3 BTC worth $9.2 million. Metaplanet’s strategy copies software developer MicroStrategy, which has acquired bitcoin for over four years and holds more than 226,000 BTC.

Share Price Rises Amid Economic Recovery

Metaplanet’s share price closed 20% higher on Thursday as Japanese stocks rebounded from the previous week’s sell-off after the Bank of Japan hiked interest rates.

Conclusion

Metaplanet continues to buy Bitcoin despite recent stock market volatility, sticking to its strategy of adopting the cryptocurrency as a reserve asset. The company has borrowed millions of dollars specifically for acquiring more bitcoin.

Tags: BitcoinMetaplanetMicrostrategystock market
TweetShareShare
Previous Post

Judge Approves $12.7 Billion Payout for FTX Creditors in Settlement with CFTC

Next Post

United States Has a 35% Chance of a Recession This Year and This is Why

DON'T MISS THESE! HOT OFF THE PRESS

Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
SEC Plans Shortcut for Crypto ETFs With New Listing Rules
CRYPTO

SEC Plans Shortcut for Crypto ETFs With New Listing Rules

July 1, 2025
Connecticut Bans Bitcoin and Crypto for Government Funds
BITCOIN

Connecticut Bans Bitcoin and Crypto for Government Funds

July 1, 2025
Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme
CRYPTO

Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme

July 1, 2025
FARTCOIN Surges 148%—Is the Meme Just the Beginning?
CRYPTO

FARTCOIN Surges 148%—Is the Meme Just the Beginning?

July 1, 2025
Load More

Related News

Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
SEC Plans Shortcut for Crypto ETFs With New Listing Rules

SEC Plans Shortcut for Crypto ETFs With New Listing Rules

July 1, 2025
Donald Trump Threatens Elon Musk with DOGE Audit

Donald Trump Threatens Elon Musk with DOGE Audit

July 1, 2025
Jerome Powell Says July May be Too Early for Rate Cuts, But Doesn’t Rule it Out

Jerome Powell Says July May be Too Early for Rate Cuts, But Doesn’t Rule it Out

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.