Metaplanet, a Tokyo-listed bitcoin holding company, has borrowed $100 million secured by a portion of its 30,823 BTC reserve, valued near $3.2 billion. The October 31 transaction, under a preapproved facility, carries a floating U.S. dollar-linked rate and can be repaid anytime.
The loan will fund further bitcoin accumulation and Metaplanet’s “Bitcoin Income Generation” initiative, which earns yield through options premiums. The firm said the collateral represents only a minor part of its holdings, reflecting its conservative debt policy.
Metaplanet’s bitcoin holdings are currently down about 4.4% from their $108,036 average cost per coin, as BTC trades near $103,000. Despite being up 30% this year, Metaplanet’s stock has plunged 81% since May. The company, now the fourth-largest public bitcoin holder, targets owning 210,000 BTC by 2027 — 1% of total supply.
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