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Japanese firm Metaplanet announces ¥1.75B bond issuance for Bitcoin purchases.
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The company has announced its plans to raise funds through guaranteed ordinary bonds.
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Metaplanet currently holds 1,018.17 BTC after the recent purchase of 156.783 BTC in October.
Metaplanet has announced the issuance of its 3rd series of guaranteed ordinary bonds worth ¥1.75 billion ($11.3 million). The company stated that the funds raised would be used to buy more Bitcoin. The latest decision to issue the bond was following a Board of Directors meeting held on November 18, 2024.
*Metaplanet Issues ¥1.75 Billion in 1-year 0.36% Bonds, Proceeds to Fund Additional Purchases of $BTC* pic.twitter.com/Jv3IEylplA
— Metaplanet Inc. (@Metaplanet_JP) November 18, 2024
The company stated that the bonds will carry an annual interest rate of 0.36% and are set to mature on November 17, 2025. The announcement follows Metaplanet’s recent Bitcoin purchase of 156.783 BTC on October 28. On that day, the BTC was acquired at an average price of 10,205,188 yen ($65,961) per Bitcoin.
This latest acquisition, totaling approximately 1.6 billion yen ($10.34 million), has pushed the company’s total Bitcoin holdings to 1,018.17 BTC. Historical purchase data reveals Metaplanet’s strategic accumulation pattern. They started out their Bitcoin purchasing spree on April 23, 2024, by acquiring 97.850 BTC at 10,219,526 yen ($66,062) per Bitcoin.
Metaplanet is referred to as Asia’s MicroStrategy for its Bitcoin purchase decision. Despite the market turmoil, the firm has been purchasing Bitcoin over the past months.The company’s aggregate cost basis for its total holdings stands at 9.622 billion yen ($62.3M), with an average purchase price of 9,450,746 yen per Bitcoin ($61,084).
The value of their current Bitcoin holdings stands at $92.8 million, with an unrealized gain of $30 million. Metaplanet’s announcement to issue bonds to buy additional BTC comes as Bitcoin reaches a new all-time high of $93,434.
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Metaplanet’s venture into the Bitcoin ecosystem is not limited to its Bitcoin purchase. The company’s CEO, Simon Gerovich, also announced the launch of the Metaplanet Shareholder Benefits Program. The program will provide exclusive privileges to their shareholders. In addition, the company stated that the program will help introduce more people to the Bitcoin ecosystem.
As part of the program, Metaplanet has also planned a Bitcoin giveaway with prizes totaling ¥30 million ($193,000). Simon had also announced on X that more Bitcoin purchases are incoming. Metaplanet’s commitment to accumulate Bitcoin comes amidst the bullish market conditions. With its continued Bitcoin purchase, the Asian company stands out with its Bitcoin strategy.