Japanese Bitcoin Treasury Metaplanet’s stock price is rising, just as the Tokyo Stock Exchange-listed company doubled down on its Bitcoin stockpiling master plan on Tuesday.
Metaplanet was trading up more than 2% after announcing it would use its Bitcoin holdings as collateral to secure a $130 million loan to buy more assets. According to , Metaplanet’s stock price has increased nearly 5% since the beginning of the year. Yahoo Finance data.
“Funds allocated to the Bitcoin income generating business will be used as collateral to sell Bitcoin options to generate premium income,” the company said in a Tuesday filing.
The company, dubbed “Asia’s MicroStrategy” by some investors and one of the world’s largest crypto assets, began buying Bitcoin in 2024, pivoting away from its core hotel and technology businesses. The company currently holds 30,823 BTC, worth approximately $2.7 billion at current BTC prices. that the purpose By 2027, we will acquire 210,000 Bitcoins, equivalent to 1% of the total supply.
The loan comes at a time when cryptocurrency prices have taken a hit and digital asset government bonds have been volatile. The sharp fall in digital asset prices this quarter has highlighted the concerns of skeptics about crypto-driven government bond strategies. strategy—Formerly MicroStrategy—2020.
The amount of digital asset coffers has soared this year as companies looking to copy the strategy bought Bitcoin and other digital coins and tokens as a way to boost stock prices.
bitcoin price It crashed last week and is currently 30% below its October record of $126,080, according to CoinGecko. It recently hit nearly $87,516, down 1% in 24 hours.
Bitcoin has rebounded from last week’s recent lows of around $81,000, leaving countless users feeling optimistic once again. Users of prediction markets owned by decryptionDastan, the parent company of , gives a 67% chance that Bitcoin’s price will next rise to $100,000 instead of falling to $69,000.
Strategy, which allows shareholders to gain exposure to Bitcoin without the risks associated with owning it directly, is the digital coin’s largest corporate holder, holding 649,870 BTC, worth about $57 billion at current prices.
However, the company’s stock price (MSTR) has fallen a significant 41% this year, with some analysts raise a concern There is a possibility that it will be removed from some stock indexes next year.
Michael Saylor, Strategy Co-Founder and Executive Chairman said last week It is worth noting that the company’s “belief in Bitcoin is unwavering” and that it continues to purchase and hold BTC amid speculation about a possible delisting. did not announce This is my usual purchase every Monday.
Metaplanet is moving forward as well, looking for new ways to raise funds to buy more Bitcoin. Just last week, it was announced The company plans to issue products that pay dividends to investors as an additional funding mechanism.
