Strategy to buy $2 billion more in Bitcoin as Metaplanet reaches milestone
The post Strategy to buy $2 billion more in Bitcoin as Metaplanet reaches milestone appeared on BitcoinEthereumNews.com.
Strategy, previously known as MicroStrategy, is pushing ahead with its aggressive Bitcoin accumulation strategy. According to a Feb. 20 statement, the company plans to acquire an additional $2 billion worth of Bitcoin using proceeds from its latest convertible notes offering. At the same time, Japanese firm Metaplanet, a Strategy copycat, has reached a key milestone in its Bitcoin investment strategy. Strategy’s $2 Billion move On Feb. 20, Strategy announced the pricing details of its $2 billion convertible senior notes. These zero-interest notes will mature in 2030, with the offering set to close on Feb. 21, 2025. Investors can convert them into Strategy’s stock shares, which have been set at an initial rate of 2.3072 MSTR shares per $1,000 principal amount. This translates to a conversion price of $433.43 per share, reflecting a 35% premium over the company’s weighted average stock price during the final trading hours on Feb. 20. Noteholders can convert their investments under specific conditions before Dec. 3, 2029. After this date, they may convert at any time and receive either cash or Strategy’s Class A common stock. Strategy is the world’s largest corporate holder of Bitcoin, with 478,740 BTC valued at more than $46 billion. Metaplanet Bitcoin reserve Metaplanet has continued its Bitcoin accumulation, purchasing 68.59 BTC for approximately $6.6 million. According to a Feb. 20 statement, the company paid an average of $96,335 per Bitcoin, bringing its total holdings to 2,100 BTC. At current market rates, this investment is valued at over $204 million. The Japan-based firm’s CEO, Simon Gerovich, reaffirmed its commitment to a Bitcoin-first approach while describing the asset as the world’s only truly scarce resource. According to him, the company has ambitious goals of accumulating 10,000 BTC by the end of 2025 and 21,000 BTC by 2026. Meanwhile, Metaplanet has also secured its…
Filed under: News - @ February 20, 2025 5:25 pm