Metaplanet pledges bitcoin assets to raise 100 millions USD for further bitcoin accumulation and expansion of yield business
Jinse Finance reported that Metaplanet raised $100 million by collateralizing its bitcoin assets. The funds raised will mainly be used to purchase more bitcoin, expand revenue-generating businesses, and repurchase shares. Part of the funds will also be used for yield-generating businesses, which will create and sell cash-secured bitcoin options to earn stable returns while holding bitcoin. As of October 31, the company held 30,823 bitcoins (approximately $3.517 billions), and the loan amount this time accounts for about 3% of its holdings.
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