Metaplanet To Borrow $130 Million For Renewed Bitcoin Purchases
Metaplanet Inc. (OTC:MTPLF) borrowed another $130 million against its Bitcoin (CRYPTO: BTC) holdings on Nov. 21 to expand purchases, income-generation strategies, and potential share buybacks.
Metaplanet Draws More Capital From Its Bitcoin Credit Line
The company said the new loan was executed under its previously approved $500 million Bitcoin-backed facility, with total usage now at $230 million.
The lender remained undisclosed at the counterparty’s request, consistent with its earlier $100 million draw.
Metaplanet noted that the debt carries a floating U.S. dollar benchmark rate and renews automatically each day.
It may repay the loan at any time, with all borrowings secured by Bitcoin held on its balance sheet.
Collateral Coverage Remains Large But Market Pressure Builds
The firm said its 30,823 BTC reserve — valued at about $2.7 billion at current prices, provides significant collateral relative to the size of the loan.
It acknowledged that Bitcoin’s price volatility may require additional collateral during the term but said its financial …
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