Japan's Metaplanet announces $11.3 million bond issuance to purchase more bitcoin
Quick Take
- The Tokyo-listed firm plans to use the funds raised from bond sales to purchase more bitcoin.
- The company currently holds over 1,018 BTC.
Japanese investment firm Metaplanet Inc. announced the issuance of one-year ordinary bonds totaling 1.75 billion yen ($11.3 million) to purchase additional bitcoin.
The Tokyo-listed company said on Monday that its board of directors had resolved to issue the bonds for an annual interest rate of 0.36%, with the funds raised intended to be used for purchasing bitcoin. The redemption date is set for Nov. 17, 2025.
“More bitcoin purchases incoming,” Simon Gerovich, CEO of Metaplenet, wrote on X today.
Metaplanet has been on a bitcoin buying spree in recent months following its May announcement to adopt bitcoin as a strategic treasury reserve asset. Its latest disclosure showed that the company currently holds 1,018.17 BTC, or about $93.5 million at current market prices, making it one of the largest corporate holders of bitcoin in Asia.
Last month, the firm raised about 10 billion yen ($66 million) by completing its stock acquisition rights exercise.
Metaplanet’s stock closed up 0.81% at 1,994 yen on Monday in Japan. Its stock price has risen 1,146% year-to-date, according to Google Finance. The Nikkei 225 index was down 1.09% today.
Meanwhile, MicroStrategy remains the largest public corporate bitcoin holder, owning 279,420 BTC, according to data from BitcoinTreasuries. Marathon Digital follows this record with 27,562 BTC.
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