Japanese investment firm Metaplanet has announced a plan to use debt to buy more Bitcoin—mirroring the model of American firm MicroStrategy, the top corporate BTC holder—despite recent pushback from shareholders.
The company said Friday that it would issue 5 billion yen ($31.9 million) in bonds to buy more of the cryptocurrency. Just on Tuesday, the company had announced another bond issuance to fund its Bitcoin strategy.
That brings the total of money raised to buy Bitcoin to nearly $61 million.
But on Tuesday, the share price of the investment firm tanked, showing that investors were
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Author: Mathew Di Salvo
