Metaplanet Secures $6.8 Million Loan for Bitcoin Purchase
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Aug 08 2024Metaplanet's Bitcoin Expansion: Japanese investment firm Metaplanet has secured a $6.8 million loan to purchase an additional 118.5 Bitcoins, aiming to bolster its holdings as part of a strategy to hedge against Japan's economic instability.
Market Response and Performance: Despite a decline in Bitcoin prices, Metaplanet's stock has surged by 290% since announcing its Bitcoin strategy, reflecting investor confidence in the firm's long-term financial prospects.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
