Metaplanet draws $130M BTC-backed loan for share buybacks, BTC purchases

Metaplanet (TYO: 3350, OTCQX: MTPLF) executed a $130 million loan on November 21 under its bitcoin-backed credit facility to fund additional bitcoin acquisitions and support potential share buybacks, according to a company notice dated November 25. The credit line brings Metaplanet’s total borrowings under the $500 million facility to $230 million. Metaplanet reported holding 30,823 BTC, which it valued at $3.5 billion as of October 31, saying that it has “sufficient collateral headroom” to overcollateral ...