Metaplanet raised $100 million by mortgaging its Bitcoin assets, which will be used to increase its Bitcoin holdings and expand its revenue business

According to CoinPost, Metaplanet raised $100 million by collateralizing its Bitcoin assets. The funds raised will primarily be used to purchase more Bitcoin, expand revenue-generating businesses, and buy back shares. A portion of the funds will also be used for a revenue business that will create and sell cash-backed Bitcoin options, thereby earning stable returns while holding Bitcoin.

As of October 31, the company holds 30,823 Bitcoins (approximately $3.517 billion), and this borrowing amount accounts for about 3% of that holding.