The post Metaplanet Inc. Explores More Bitcoin Acquisitions with New 1.75 Billion Yen Bond Issuance appeared on BitcoinEthereumNews.com.

In a strategic move reflecting the growing acceptance of cryptocurrencies, Japanese investment firm Metaplanet Inc. plans to issue bonds specifically for purchasing bitcoin. This initiative marks a significant step in Metaplanet’s strategy, targeting a capital raise of 1.75 billion yen, approximately $11.3 million, which is set to bolster its bitcoin holdings. Simon Gerovich, CEO of Metaplanet, stated on X, “More bitcoin purchases incoming,” signaling ongoing commitment to cryptocurrency investments. Metaplanet Inc. announces a bond issuance to purchase bitcoin, highlighting corporate adoption of cryptocurrency as a treasury asset and aiming to strengthen its holdings. Metaplanet Inc. Reveals Plans for Significant Bitcoin Acquisition Continuing its momentum in the cryptocurrency market, Metaplanet Inc., a Tokyo-listed investment firm, has initiated the process to issue one-year ordinary bonds valued at 1.75 billion yen ($11.3 million). The annual interest rate on this bond issue stands at 0.36%, with the proceeds earmarked exclusively for purchasing additional bitcoin. This strategic decision to enhance its bitcoin portfolio aligns with the company’s previous announcement made in May, where it declared bitcoin as a key strategic treasury reserve asset. Increasing Bitcoin Holdings: A Strategic Approach Metaplanet’s recent actions reflect a broader trend among corporations embracing cryptocurrencies as a viable reserve asset. The firm’s latest financial disclosures indicate that it currently holds approximately 1,018.17 BTC—valued at roughly $93.5 million based on current market conditions. This substantial holding positions Metaplanet as one of the largest corporate bitcoin holders in Asia, showcasing a growing confidence in the digital currency as an investment vehicle. Stock Performance and Market Reactions Following the announcement of the bond issuance, Metaplanet’s stock experienced a modest increase of 0.81%, closing at 1,994 yen. This performance comes amid a remarkable year-to-date increase of 1,146%, which highlights the stock’s strong upward trajectory. In contrast, the Nikkei 225 index, a benchmark for Japanese…

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Filed under: News - @ November 18, 2024 8:25 am