Metaplanet Inc., a Japanese investment firm, has recently announced that it has secured a loan of 1 billion yen ($6.8 million) with a low 0.1% annual interest rate.
The company plans to use most of the loan to purchase additional Bitcoin, as it remains confident in the long-term value of the cryptocurrency.
While their main goal is to hold Bitcoin long-term, they may also utilize it for operations, in which case it will be recorded as a current asset.
This news comes after the company’s announcement earlier this week of a 10 billion yen ($68.4 million) gratis allotment of stock acquisition rights, with the majority of the funds raised being allocated towards purchasing Bitcoin.
