Metaplanet Plans 1B Yen Bond Sale to Buy More Bitcoin

Metaplanet plans to issue 1 billion yen in bonds to purchase nearly 100 BTC for long-term holding.
Metaplanet Plans 1B Yen Bond Sale to Buy More Bitcoin
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Key Takeaways

  • Metaplanet has announced a 1 billion yen bond issuance to buy Bitcoin.
  • The firm’s shares have surged over 500% this year.
  • Metaplanet’s total Bitcoin holdings would reach 241 BTC with the new purchase.

Tokyo-based investment firm Metaplanet has announced plans to issue 1 billion yen ($6.26 million) in bonds to purchase Bitcoin for long-term holding. The bonds will offer an annual interest rate of 0.5%.

Metaplanet’s shares surged by 11.5% on Monday to 96 yen ($0.60), continuing a year-long increase of over 500%. The company’s stock peaked at 104 yen ($0.65) during the day.

100 BTC

If purchased today, the 1 billion yen would buy nearly 100 BTC, bringing Metaplanet’s total holdings to 241 BTC, valued around $15 million. The firm recently bought 23.25 BTC on June 11, adding to its previous acquisition of 117 BTC in May.

Metaplanet’s average purchase price is 10.28 million yen ($65,365) per Bitcoin, meaning current prices have the firm in a loss position. However, the company’s Bitcoin-first approach aims to hedge against economic pressures in Japan.

This move has drawn comparisons to MicroStrategy, the U.S. software company with the largest public Bitcoin holdings at 214,400 BTC, valued at $13.4 billion.

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