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Japan’s Tokyo Stock Exchange-listed investment firm Metaplanet has taken a $6.8 million loan with a long-term value increase forecast in the cryptocurrency market. The company’s board announced that nearly all of the loan would be allocated for Bitcoin purchases. Metaplanet also plans to increase its Bitcoin investments by allocating $68 million in stock purchase rights.
Metaplanet’s Strategic Decision Could Be Risky
Tokyo-based investment firm Metaplanet announced today that it has taken a loan worth 1 billion yen, approximately $6.8 million, with an annual interest rate of 0.1%. The firm plans to use this loan to purchase Bitcoin. However, if BTC falls, this move could be very risky.
The board believes that Bitcoin holds long-term value and aims to keep Bitcoin as a core asset. The company stated that if Bitcoin is used for operational purposes, the relevant Bitcoin balance would be recorded as a current asset on the balance sheet.
Stock Purchase Rights Allocation
In a Tuesday announcement, Metaplanet disclosed that it would allocate stock purchase rights worth approximately $68.4 million, or 10 billion yen. It is stated that a large portion of these funds will be strategically allocated to Bitcoin purchases. The firm noted that holding Bitcoin as a core asset aligns with its long-term growth strategies and would significantly enhance the company’s profitability and corporate value.
In May, Metaplanet announced that it had begun adopting Bitcoin as a strategic treasury reserve asset. This move was a direct response to ongoing economic pressures in Japan, high levels of government debt, prolonged negative real interest rates, and a weak yen. The firm stated that Bitcoin is seen as a strong store of value under these economic conditions.
Metaplanet’s shares increased by 20.2% on Thursday after experiencing a 12.4% drop on Monday, which was the worst day for the Nikkei 225 index since 1987. The Nikkei index, however, fell by 0.74% today. Metaplanet’s investment move has boosted investor confidence by enhancing the company’s future growth and profitability expectations. The company recently stated that they were inspired by Microstrategy and have seen returns on their Bitcoin investment.
