This post was originally published on Coinspeaker
Key NotesThe undisclosed lender provided flexible terms with daily renewal and the ability to repay at any time.Metaplanet’s Bitcoin holdings are valued at approximately $3.5 billion.The company plans additional Bitcoin purchases. .
Metaplanet Inc. executed a $100 million loan secured by its Bitcoin holdings, the Tokyo-listed company disclosed Nov. 4. The loan was finalized on Oct. 31 under a credit facility agreement established Oct. 28.
The company holds 30,823 BTC BTC $103 153 24h volatility: 1.3% Market cap: $2.06 T Vol. 24h: $110.93 B as collateral for the transaction, according to a Nov. 4 notice. The holdings are valued at $3.13B at the time of writing. Bitcoin served as the primary security for the arrangement.
The lender remains undisclosed at the counterparty’s request. The loan features daily automatic renewal and can be repaid at Metaplanet’s discretion without a fixed maturity date. Interest accrues at a reference USD rate plus an undisclosed spread. The borrowing represents the first drawdown from a $500 million credit facility established in late October.
Intended Use of Funds
Metaplanet allocated the $100 million across three purposes:
The income business generates revenue through
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