After the US listed company MicroStrategy took the lead in increasing its holdings of Bitcoin (BTC), the Japanese listed company Metaplanet also announced that it would expand its Bitcoin reserves through the issuance of bonds.
Metaplanet announced today on the All proceeds from this fundraising will be used to purchase Bitcoin.
*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
Metaplanet has been purchasing Bitcoin since April of this year as a hedge against Japan's debt problem and yen fluctuations. According to data from Bitcoin Treasuries, the company has accumulated 1,018 Bitcoins so far, worth approximately $92.33 million. Additionally, the company has adopted options strategies to further increase its holdings.
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