Metaplanet secures $100M loan backed by its BTC holdings

Metaplanet has secured a $100 million loan using its Bitcoin holdings as collateral, CoinPost reported. The company plans to use the funds to purchase additional BTC, buy back company shares, and expand its business operations. Metaplanet is a Japanese publicly traded company that has incorporated Bitcoin as a primary treasury asset. As of Oct. 31, it held 38,230 BTC.