Metaplanet burned through 83% of a $500 million credit line to build 43,000 BTC, and now it wants investors to fund the next leg

Metaplanet moved over 5,000 Bitcoin (worth about $322 million) this week, triggering market speculation that the firm might be liquidating a portion of its corporate reserves. On Aug. 12, CEO Simon Gerovich shut down the rumor and explained that the transfer was a routine custody operation, with no Bitcoin sold and total holdings unchanged at […] The post Metaplanet burned through 83% of a $500 million credit line to build 43,000 BTC, and now it wants investors to fund the next leg appeared first on CryptoSlate.