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Metaplanet announced the issuance of JPY 1.75 billion in bonds to raise funds for further buying Bitcoin.
Japanese listed company Metaplanet announced today (18th) that it will issue a total of 1.75 billion yen (approximately 11.3 million US dollars) in ordinary bonds, and the funds raised will be used in full to purchase BTC, following the example of MicroStrategy in raising funds from the market to increase its BTC holdings.
*Metaplanet Issues ¥1.75 Billion in 1-year 0.36% Bonds, Proceeds to Fund Additional Purchases of $BTC* pic.twitter.com/Jv3IEylplA
— Metaplanet Inc. (@Metaplanet_JP) November 18, 2024
Metaplanet pointed out that these bonds were approved for issuance after board discussion, with an annual interest rate of 0.36% and maturity on November 17, 2025.
In response, the company's CEO Simon Gerovich also announced that Metaplanet will continue to purchase more BTC.
Since announcing in May of this year that BTC would be a "strategic reserve asset," Metaplanet has been actively increasing its holdings of BTC. So far, the company has held 1,018.17 BTC, which is approximately 93.5 million US dollars at current market prices.
In addition, Metaplanet raised approximately 1 billion yen (approximately 66 million US dollars) through the exercise of stock subscription rights last month, demonstrating the company's high confidence in Bitcoin investment.
Inspired by the latest news, Metaplanet's stock price rose 0.81% on Monday, reaching 1,994 yen per share. The company's stock price has surged 1,146% since the beginning of the year, making it one of the most remarkable performers in the Japanese stock market this year. In contrast, the Japanese Nikkei 225 index fell 1.09% on Monday.
Metaplanet announced the issuance of JPY 1.75 billion in bonds, raising funds to continue buying Bitcoin. This article was first published in BlockBeats.