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Metaplanet, an investment consulting company based in Japan, has announced that it will purchase another 6 million dollars in Bitcoin (BTC). The funds for the purchase will come from a bond issuance.
Summary
Japan: the company Metaplanet ready to purchase another $6 million of Bitcoin (BTC)
Metaplanet, an investment consulting company based in Japan, announced that it will purchase an additional 6.2 million dollars in Bitcoin (BTC).
*Metaplanet issues ¥1 billion in 0.5% bonds; proceeds to fund additional purchases of $BTC* pic.twitter.com/qKZQKHZ6MS
— Metaplanet Inc. (@Metaplanet_JP) June 24, 2024
“Metaplanet issues 1 billion yen in bonds at 0.5%; the proceeds will be used to finance further purchases of $BTC.”
Specifically, the collection of 1 billion yen (over 6.2 million dollars) will come from a bond offering with an annual interest rate of 0.5% and a maturity date set for June 25, 2025. The announcement states as follows:
“The Board of Directors of Metaplanet Inc. has resolved to purchase Bitcoin worth 1 billion yen starting from today’s meeting. The funds for this purchase will be allocated from the capital raised through the issuance of the second series of ordinary bonds (with guarantees).”
The Japanese company is already holder of 9 million dollars in Bitcoin, to which it intends to add another over 6 million dollars to strengthen its reserves in BTC.
Japan: Metaplanet acquires more bitcoin and becomes a long-term holder
The objective expressed by the company from Japan is precisely to accumulate bitcoin to be a long-term BTC holder company. At the moment, Metaplanet already holds 141 BTC, and is currently the largest corporate bitcoin holder in Japan.
Despite this, Metaplanet specifies the following:
“Although our basic policy is to hold Bitcoin in the long term, if we use Bitcoin for operations or other purposes, the corresponding Bitcoin balance will be recorded as a current asset in the balance sheet”.
In any case, the statement by Metaplanet of wanting to purchase new bitcoin has increased the prices of its shares by up to +12%.
The interview with the co-founder of MicroStrategy: “BTC offers economic immortality”
Recently, the co-founder of MicroStrategy, Michael Saylor, talked about how BTC offers “economic immortality”. Saylor also launched his predictions about the future, according to which the price of BTC will reach 10 million dollars and that China will embrace and support the queen of crypto.
The business intelligence company MicroStrategy is the single private company in the world that holds the most Bitcoin.
At the moment, MicroStrategy is a holder of a whopping 214,400 BTC, equivalent to 13.37 billion dollars at the time of writing.