Metaplanet issues $11M bonds to buy Bitcoin
Metaplanet wants to buy more bitcoins
Japanese investment company Metaplanet Inc. has announced the issuance of one-year bonds worth 1.75 billion yen ($11.3 million) at a 0.36% interest rate. All proceeds from the bonds will be used to purchase bitcoin.
"At the board meeting held on November 18, 2024, we resolved to issue the third series of ordinary bonds. The funds raised will be allocated to the acquisition of bitcoin," the company stated.
Metaplanet expects the impact of this issuance on its consolidated financial results for the fiscal year ending December 2024 to be minimal.
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Metaplanet's bitcoin strategy aims for leadership in Asia
Metaplanet has made bitcoin a cornerstone of its corporate strategy, with regular acquisitions of the cryptocurrency. This approach highlights the company’s ambition to become Asia's largest bitcoin holder.
Inspired by American firm MicroStrategy, Metaplanet aims to solidify its position in the global cryptocurrency market while building investor trust through transparency and innovative asset management.
The company’s bitcoin strategy also serves as a hedge against Japan's economic instability. Recognized as "digital gold," bitcoin provides Metaplanet with a tool to safeguard its assets from inflation and macroeconomic volatility.
Regular bitcoin purchases bolster Metaplanet’s financial resilience, reflecting a long-term belief in cryptocurrency as a key strategic asset.
Two weeks ago, Metaplanet was included in the CoinShares Blockchain Global Equity Index, which tracks major publicly traded companies in the blockchain and cryptocurrency sectors.
