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Metaplanet Goes All-In on Bitcoin, Clears Debt
In a recent financial move, Metaplanet has made the bold decision to go all-in on Bitcoin. The company has reportedly fully redeemed ¥2 billion ($13.69M) in bonds, leaving only ¥3.75 billion ($25.65M) in outstanding debt.
As a result of this move, Metaplanet’s balance sheet is now dominated by crypto assets, with the company holding an impressive 4,206 BTC. This significant shift in their financial strategy has sparked excitement and speculation within the cryptocurrency community.
The decision to hold such a large amount of Bitcoin is a clear indication that Metaplanet has lost faith in traditional finance and has instead chosen to put its trust in the decentralized nature of the world’s most popular cryptocurrency.
By choosing to back Bitcoin, Metaplanet is signaling its commitment to playing the long game. The company appears to be taking a contrarian view, betting big on the future potential of Bitcoin rather than seeking short-term financial gains through debt.
It remains to be seen how this move will impact the trajectory of the cryptocurrency market and whether other companies will follow suit.
Source: https://coinpedia.org/crypto-live-news/metaplanet-goes-all-in-on-bitcoin-clears-debt/
