Metaplanet Borrows $13.5 Million (¥2 Billion) to Buy More Bitcoin
by Frederick Munawa
Japanese hotel developer and bitcoin treasury firm Metaplanet is borrowing ¥2 billion or roughly $13.5 million to buy more bitcoin (BTC). The company posted the announcement via its X account on Tuesday evening. Metaplanet currently owns 2,888 BTC and recently implemented a strategy that will see it purchase 21,000 bitcoin by 2026. The firm also claims that it owns more BTC than any other publicly traded Asian company. Prior to adopting its bitcoin strategy in 2024, Metaplanet had lost money six years in a row. The firm is now profitable and its stock was one of the best performing equities last year. CEO Simon Gerovich took to X, saying his firm will be “buying the dip.”
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings