Japanese investment firm Metaplanet has secured a 1 billion yen loan to purchase Bitcoin (BTC). According to details shared on August 8, the lender for this loan is MMXX Ventures, which holds shares in Metaplanet. The loan will last six months starting from August 8 and comes with an interest rate of 0.1% per annum.

The Tokyo Exchange-listed company plans to repay the collateral-free loan in one lump sum at the end of the loan period. With the current exchange rates, the loan amount of $6.8 million could allow Metaplanet to acquire approximately 119 BTC, with one BTC currently priced at $57,170.

This announcement follows Metaplanet’s recent declaration to raise $70 million through stock rights offerings, with over 80% of that amount intended for Bitcoin purchases. These financial maneuvers are part of Metaplanet’s strategy to increase its crypto holdings, which currently stand at 246 BTC, worth over $14 million. The company aims to hedge its long-term growth by leveraging Bitcoin’s potential appreciation, with some analysts predicting the cryptocurrency’s price could reach $1 million in the next decade.

Metaplanet’s approach mirrors that of MicroStrategy, a U.S. company known for its significant Bitcoin investments. MicroStrategy holds more than 79,000 BTC, valued at approximately $4.5 billion. On August 7, MicroStrategy CEO Michael Saylor disclosed that he personally owns Bitcoin worth over $1 billion, potentially amounting to around 20,000 BTC.

Michael Saylor says he personally owns more than $1 billion worth of Bitcoin.

Meanwhile, Bitcoin’s price has seen a slight increase in the last 24 hours. At the time of writing, Bitcoin showed a 0.7% improvement from the previous day and registered a 24-hour trading volume of $43.5 billion, making it the second-most traded digital asset after Tether.

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