Metaplanet spends 4.5 billion yen on Bitcoin; shares hit new peak
Metaplanet raises ¥4.5 billion for Bitcoin strategy through no-interest bond issuance
Metaplanet, often referred to as “Japan’s MicroStrategy,” has successfully raised 4.5 billion Japanese Yen (approximately $30.5 million) through a no-interest bond issuance to accelerate its Bitcoin acquisition strategy.
The move underscores the firm’s aggressive adoption of Bitcoin as a treasury asset, mirroring MicroStrategy’s high-profile approach, reports CoinGape.
Bond Issuance to Fund Bitcoin Purchases
The technology giant issued its 4th Series Ordinary Bonds to EVO FUND, with a maturity date of June 16, 2025. Each bond issuance is valued at 2.5 billion yen, and Metaplanet has also announced plans for additional private placement bonds worth up to 5 billion yen in subsequent tranches.
Since initiating its Bitcoin strategy in May 2024, Metaplanet has rapidly accumulated over 1,000 BTC. This bold move reflects a growing trend among global companies leveraging Bitcoin to hedge against fiat currency risks and inflation.
Stock Surges to All-Time Highs, Market Cap Tops $1 Billion
Investor confidence in Metaplanet’s Bitcoin strategy has propelled its stock to new heights. On Tuesday, the company’s share price hit an all-time high of 4,270 JPY, reflecting a 51% gain over the past five trading sessions and an impressive 2,450% year-to-date surge.
The record rally pushed Metaplanet’s market capitalization above $1 billion, a significant milestone for the firm. CEO Simon Gerovich highlighted this achievement, noting that trading volume hit a record 27.8 billion JPY (approximately $180 million), signaling strong investor interest.
A Strategic Move Toward Bitcoin
Metaplanet’s aggressive pursuit of Bitcoin parallels MicroStrategy’s strategy, positioning the firm as a pioneer in Japan’s corporate Bitcoin adoption. With further bond issuances on the horizon, the company’s commitment to expanding its Bitcoin holdings signals long-term confidence in the cryptocurrency’s role as a store of value.
Recently we wrote, that the price of Bitcoin (BTC) has maintained its strong upward momentum, recently reaching an all-time high of $107,780, showing no signs of slowing down.
