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Metaplanet Issues ¥1.75 Billion Bonds at 0.36% Interest to Acquire More Bitcoin, Boosting Holdings to 1,018 BTC Worth $92 Million
Nov 18, 2024, 08:15 AM
Japanese public-listed company Metaplanet Inc. has announced the issuance of ¥1.75 billion (approximately $11.3 million) in one-year bonds to finance the purchase of additional Bitcoin. The bond issuance, which carries an interest rate of 0.36%, aims to bolster Metaplanet's Bitcoin holdings, which currently stand at 1,018 BTC valued at around $92 million. This strategic move follows the company's previous success in raising ¥10 billion ($66 million) through stock acquisitions, contributing to a remarkable 1,146% increase in its stock price year-to-date. The firm is reportedly adopting this strategy to mitigate risks related to yen volatility and Japan's national debt, aligning its approach with other companies like MicroStrategy that have invested heavily in Bitcoin.
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