Metaplanet has formulated a stock buyback plan to improve capital efficiency and maximize BTC returns
BlockBeats News, October 28th. Simon Gerovich, CEO of Japan's Bitcoin Treasury company Metaplanet, stated in a social media post that Metaplanet has implemented a stock repurchase plan to improve capital efficiency and maximize BTC returns. The board has also approved a credit arrangement to enable flexible execution of the company's capital allocation strategy.
According to the disclosed documents, to facilitate the execution of the repurchase plan, the board has approved the establishment of a credit arrangement with a maximum financing amount of $5 billion (approximately 764 billion yen). This arrangement allows the company to promptly borrow funds by providing Bitcoin collateral as needed. The raised funds can be used to increase BTC holdings, invest in BTC revenue-generating businesses, or conduct stock buybacks.
You may also like
Gainers
Latest Crypto News
ZEC Surpasses $500, Naval's Shoutout Leads to 575% Price Increase
Yesterday, the US Ethereum Spot ETF saw a net outflow of $1.185 billion, marking the sixth consecutive day of outflows.
ASTER has cumulatively repurchased 25.5 million ASTER tokens since the start of its buyback program, with a daily average repurchase of approximately 2.76 million tokens.
Yesterday, the US Bitcoin spot ETF saw a net outflow of $137 million, marking the sixth consecutive day of outflows.
David Sacks: Cryptocurrency Market Structure Legislation had a constructive discussion today, looking forward to introducing a bipartisan draft.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Services:support@weex.com