Metaplanet Inc., a publicly traded company on the Tokyo Stock Exchange, is ramping up its efforts to build its Bitcoin portfolio. According to multiple reports, the Japanese Bitcoin consulting company has issued ¥4.5 billion ($30 million) in zero-interest bonds to finance its Bitcoin acquisition strategy.
The company shared this news on its bond issuance through a disclosure posted on its website dated December 17th. This is the fourth in the series and formally carries the name Metaplanet Inc. 4th Series Ordinary Bonds.
The total amount of bonds is worth ¥4.5 billion, each costing ¥250 million. According to the company disclosure, the bonds are not subject to interest and will mature on June 16th, 2025.
*Metaplanet to issue 4.5 billion yen in Ordinary Bonds to Accelerate Bitcoin Purchases; Repayment to be made from Warrant Exercise Proceeds* pic.twitter.com/oS93rD7uXk
— Metaplanet Inc. (@Metaplanet_JP) December 17, 2024
Image: OneSafe
Metaplanet And Its Quest To Become Asia’s Biggest Bitcoin Holder
Metaplanet’s December bond offering is the fourth in the series, aiming to fund its Bitcoin strategy. As a publicly traded company, Metaplanet leverages Bitcoin as a primary reserve asset and seeks to use its excess cash to invest in Bitcoin.
According to its corporate manifesto, it’s taking the Bitcoin pivot thanks to the asset’s unique qualities, such as scarcity and apolitical monetary policies.
The latest bond issuance is part of the firm’s strategic plan to become the region’s largest Bitcoin holder. According to its disclosure, the bonds will be released in tranches, allowing the firm to raise money to purchase B
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Author: Christian Encila
