Summary
- Metaplanet just bought 57.1 Bitcoins worth more than $33.7 million.
- Recently, Metaplanet secured a 1 billion Yen loan to fund additional BTC purchases.
In a new post on X today, Metaplanet disclosed that the firm has bought more Bitcoins.
In a notice regarding their latest loan and Bitcoin purchasing plans, Metaplanet revealed that they purchased 500 million Yen worth of Bitcoin.
According to the official data, the number of BTC purchased is 57.103 at an average purchase price of 8,756,107 Yen ($59,235) per coin.
Their notes also reveal that the total Bitcoin holdings of the company are now 303.095 BTC worth about $18 billion at current prices.
The average purchase price is over 9,700,000 Yen per Bitcoin and the aggregated amount purchased is 2.95 billion Yen.
Securing a 1 Billion Yen Loan
On August 8, we revealed that the Japanese company Metaplanet received a 1 billion Yen loan from MMXX Ventures Limited and their Bitcoin purchasing plans.
The company stated in their notes that during the Board of Directors meeting that was held on that day, the company secured a loan totaling 1 billion JPY with the entire amount to be allocated for buying more Bitcoin.
The notes also revealed that the lender holds shares in Metaplanet. According to official data, if Metaplanet were to raise more funds, the lender may demand an early repayment.
Also, Metaplanet disclosed that the firm chose this specific lender due to their background as shareholders who have supported the company which enabled rapid loan executions.
According to the Japanese company, the loan will be used entirely to buy more Bitcoin. Also, they noted that Bitcoin holdings are exempt from end-of-term market value evaluation taxation due to long-term retention purposes.
Metaplanet has been called the Asian Microstrategy due to its policy of buying and holding Bitcoin.
Regarding Bitcoin‘s price today, at the moment of writing this article, BTC is trading above $59,000 amidst intense market volatility. The coin is up by 0.5% today.
