Summary
- MetaPlanet reportedly raised about $100 million using its Bitcoin holdings as collateral.
- The borrowing is about 3% of its total Bitcoin holdings, and the company said it will avoid excessive leverage expansion.
- The funds raised are planned to be used for additional Bitcoin purchases and the company's income business.
MetaPlanet has newly raised operating funds using its Bitcoin (BTC) holdings as collateral.
On the 5th (Korean time), CoinPost reported that MetaPlanet raised $100 million (about 153 billion won) on October 31 using Bitcoin as collateral. This loan is part of a borrowing plan announced on October 28 for up to $500 million (about 764 billion won).
MetaPlanet currently holds 30,823 BTC (approximately 5.4 trillion won), and the borrowed amount is about 3% of the total holdings. The company said, "We will only borrow within a range that can maintain sufficient collateral capacity even if the price of Bitcoin falls," adding that it intends to refrain from excessive leverage expansion.
MetaPlanet plans to use the funds for additional Bitcoin purchases and for its income business.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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