Following its recent acquisition of Bitcoin, Japan-based investment firm Metaplanet is planning to issue another round of bonds to boost its growing cryptocurrency reserves.
The company announced on May 9 that it intends to raise approximately $21.25 million via the sale of “0% Ordinary Bonds,” with all proceeds dedicated entirely to purchasing more Bitcoin.
These zero-interest bonds—commonly sold below their face value—offer no regular returns, instead paying out their full value at maturity. This latest bond offering was approved during the company’s board meeting on May 9, which also included a decision to issue the 14th series of stock acquisition rights to EVO Fund, a Cayman Islands-based investment firm. The redemption date for this issuance is set for November 7.
At Bitcoin’s current market price of around $102,819, the firm could potentially add another 206 BTC to its portfolio if the full amount is raised, per CoinGecko data.
Metaplanet initially revealed its Bitcoin acquisition plans in April 2024. According to BitcoinTreasuries.net, the firm is now the largest public Bitcoin-holding company in Asia and ranks 11th globally.
Its stock (ticker: 3350T) has seen a meteoric rise—soaring over 1,600% in the past year—trading at roughly ¥511 (around $3.50), per Google Finance.
Aggressive Bitcoin Accumulation Strategy Continues
Just days earlier, on May 7, Metaplanet disclosed a $53.4 million Bitcoin purchase, acquiring 555 BTC at an average price of $96,134 each. The company’s total holdings now stand at 5,555 BTC, accumulated for $481.5 million at an average cost of $86,672 per coin.
That same day, Metaplanet revealed plans to raise an additional $25 million through another zero-coupon bond issuance to continue funding its Bitcoin buying spree.
In another strategic move, the company announced on May 1 that it would establish a wholly owned U.S. subsidiary, Metaplanet Treasury, headquartered in Florida. Through this entity, it aims to tap into American capital markets and raise up to $250 million to advance its Bitcoin-focused strategy.
Metaplanet’s aggressive accumulation echoes a broader trend among corporations adding Bitcoin to their balance sheets. Strive Asset Management recently declared its transition into a Bitcoin treasury firm, while GameStop completed a $1.5 billion convertible debt offering on April 1, part of which is also earmarked for Bitcoin acquisitions.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
