Metaplanet KK (JP:3350) has released an update.
Metaplanet Inc. has secured a JPY 1 billion loan from shareholder MMXX Ventures Limited to invest in Bitcoin, with the expectation of minimal impact on their 2024 fiscal year results. The company intends to allocate almost the entire loan amount to Bitcoin purchases, which will be recorded at cost for long-term holdings, while any gains or losses from other holdings will be reflected quarterly in their financial statements.
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