Key Takeaways
- Metaplanet issued $24.7 million in zero-coupon bonds to buy more Bitcoin.
- The company now holds 5,000 BTC, worth $484.2 million, with a 13.1% profit.
- Metaplanet's stock has surged 1,428.5% over the past year amid its Bitcoin push.
Metaplanet, a publicly listed Japanese firm, has issued ¥3.6 billion ($24.7 million) in zero-coupon bonds to accelerate its Bitcoin acquisition strategy.
The bonds, approved by the company’s Board on May 2, will be sold to EVO FUND, with each bond valued at ¥90 million and maturing on October 31, 2025.
The company confirmed:
The proceeds raised through this issuance will be allocated to the purchase of Bitcoin.
Previous issuance & current holdings
This move follows a previous issuance in March, where Metaplanet raised ¥2 billion ($13.4 million) for the same purpose.
The firm is targeting 10,000 BTC by the end of the year.
As of now, Metaplanet holds 5,000 BTC valued at $484.2 million, with an average purchase cost of $85,558 and a current gain of 13.1%.
Recent acquisitions & corporate ranking
In mid-April, the company acquired 319 BTC for around $26.3 million.
It now ranks as the 11th-largest corporate holder of Bitcoin, according to Bitcoin Treasuries.
Strategic developments
To support its broader ambitions, Metaplanet formed a Strategic Board of Advisors in March and named Eric Trump as its first member.
Stock performance & strategic approach
The company’s aggressive Bitcoin strategy has fueled a 1,428.5% surge in its stock (3350.T) over the past year, with a year-to-date gain of 22.9%, according to Yahoo Finance.
Metaplanet’s approach is seen as mirroring that of Strategy (formerly MicroStrategy), which is also significantly increasing its Bitcoin exposure through equity and bond investments.
