Metaplanet has raised 9,5 billion yen to accelerate bitcoin purchases through a bond issue
The new funds will allow the company to accelerate its planned 2025 bitcoin purchases in the current fiscal year
20.12.2024 - 13:40
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What’s new? Japanese investment firm Metaplanet Inc. has raised 9,5 billion Japanese yen ($60,6 million) through two tranches of a bond issue aimed at accelerating bitcoin purchases.
The Tokyo-listed company announced the 5 billion yen ($31,9 million) bond issue following a 4,5 billion yen ($28,7 million) bond issue earlier this week. Both bonds carry zero interest and are due on June 16, 2025.
Metaplanet CEO Simon Gerovich said the new funds will allow the company to accelerate its planned 2025 bitcoin acquisitions in the current fiscal year. The move is part of Metaplanet’s broader strategy to adopt bitcoin as a key Treasury reserve asset, which it first announced in May.
What else is known? As of December 18, the company held about 1 142 287 BTC, which is valued at about $110,3 million at current market prices. Despite the ambitious move, Metaplanet shares on the Tokyo Stock Exchange fell 4,24% to close at 3610 yen on Friday. However, the company’s share price has gained 2023% since the beginning of the year. The stock also began trading on the US OTCQX market this week, closing 9,96% lower on the first day.
Metaplanet’s aggressive bitcoin strategy mirrors that of large firms such as MicroStrategy, which remains the largest public corporate bitcoin holder with 439 000 BTC.
In October, Metaplanet raised an additional 10 billion yen ($66,2 million) in capital through the sale of its shares. The funds were used to purchase bitcoins. 13 774 individual shareholders participated in the 11th series of securities sales.
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