Japanese investment company Metaplanet Inc. saw its stock price rise more than 12% on Monday morning after announcing that its board of directors had agreed to purchase 1 billion yen ($6.26 million) worth of Bitcoin using the capital raised through the upcoming bond issuance.

Source: Google Finance

The Tokyo-listed company said it plans to buy more Bitcoin by issuing a second batch of secured conventional bonds.

The bonds total $1 billion, are expected to have an annual interest rate of 0.5%, and will mature on June 25, 2025. The company said the bond's settlement date is the 26th. June 2024. 

“The funds raised will be used to purchase Bitcoin,” the company stated.

Metaplanet's latest move to issue bonds to buy Bitcoin comes after the company purchased an additional 250 million yen worth of Bitcoin earlier this month, holding approximately 141.07 BTC as of June 11. 

In May, the company announced that it began using Bitcoin as a strategic treasury reserve asset. 

“This move is a direct response to sustained economic pressures in Japan, particularly high levels of government debt, persistent negative real interest rates and the resulting weak yen.”

https://tapchibitcoin.io/metaplanet-se-mua-them-626-trieu-do-la-bitcoin-thong-qua-phat-hanh-trai-phieu.htm