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.”
Metaplanet Borrows $13.5 Million (¥2 Billion) to Buy More Bitcoin
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
