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Japanās Metaplanet Plans 1B Yen Bond Sale to Buy Bitcoin
Japanās Metaplanet Plans to Sell Bonds to Buy Bitcoin
YEREVAN (CoinChapter.com) ā Tokyo-based investment firm Metaplanet Inc. plans to issue 1 billion yen ($6.26 million) in bonds to raise money to buy Bitcoin.
On Monday, June 24, Japanās Metaplanet announced its board had approved the bond sale. The firm intends to use the funds to purchase Bitcoin (BTC) for long-term holding.
Metaplanet Bitcoin Purchase Announcement. Source: MetaplanetInc.
The bonds will offer an annual interest rate of 0.5%.
Metaplanetās 1 Billion Yen Bond Issuance Details. Source: Metaplanet Inc. Metaplanet Shares Soar 11.5% After BTC Bond Announcement
Following the announcement, Japanās Metaplanetās shares surged 11.5% on Monday, trading at 95 yen. This marked a significant increase, with its stock price rising over 500% this year. At its peak on Monday, the shares reached 104 yen ($0.65), according to Google Finance.
Metaplanet hit a top of 104 yen ($0.65) on Monday when trading resumed after lunch. Source: Google Finance Metaplanet to Increase Bitcoin Holdings During Price Drop
BTC recently hit a 40-day low, falling 2.6% in the past day to $62,733, after nearly reaching $72,000 in early June, as per CoinGecko data.
Recent Bitcoin Price Fluctuations. Source: CoinGecko
If Metaplanet purchases 1 billion yen worth of BTC today, it would acquire approximately 99.84 BTC. This would add to its current holdings of 141.07 BTC. On June 11, the company bought an additional 23.25 BTC.
Metaplanet first entered the Bitcoin market in mid-May with a purchase of 117 BTC. The firmās average purchase price for Bitcoin is 10.28 million yen ($65,365) per BTC, which is higher than the current market price.
Metaplanetās Bitcoin Strategy Mirrors MicroStrategyās Approach
Metaplanetās strategy has been compared to American software company MicroStrategy. MicroStrategy holds 214,400 BTC, valued at $13.4 billion, according to Bitbo data.
Leading Public Companies Holding Bitcoin. Source: Bitbo data
Both companies focus heavily on BTC as a primary asset. Metaplanetās recent activities show its intent to build its Bitcoin reserves.
The post Japanās Metaplanet Plans 1B Yen Bond Sale to Buy Bitcoin appeared first on CoinChapter.
YEREVAN (CoinChapter.com) ā Tokyo-based investment firm Metaplanet Inc. plans to issue 1 billion yen ($6.26 million) in bonds to raise money to buy Bitcoin.
On Monday, June 24, Japanās Metaplanet announced its board had approved the bond sale. The firm intends to use the funds to purchase Bitcoin (BTC) for long-term holding.
Metaplanet Bitcoin Purchase Announcement. Source: MetaplanetInc.
The bonds will offer an annual interest rate of 0.5%.
Metaplanetās 1 Billion Yen Bond Issuance Details. Source: Metaplanet Inc. Metaplanet Shares Soar 11.5% After BTC Bond Announcement
Following the announcement, Japanās Metaplanetās shares surged 11.5% on Monday, trading at 95 yen. This marked a significant increase, with its stock price rising over 500% this year. At its peak on Monday, the shares reached 104 yen ($0.65), according to Google Finance.
Metaplanet hit a top of 104 yen ($0.65) on Monday when trading resumed after lunch. Source: Google Finance Metaplanet to Increase Bitcoin Holdings During Price Drop
BTC recently hit a 40-day low, falling 2.6% in the past day to $62,733, after nearly reaching $72,000 in early June, as per CoinGecko data.
Recent Bitcoin Price Fluctuations. Source: CoinGecko
If Metaplanet purchases 1 billion yen worth of BTC today, it would acquire approximately 99.84 BTC. This would add to its current holdings of 141.07 BTC. On June 11, the company bought an additional 23.25 BTC.
Metaplanet first entered the Bitcoin market in mid-May with a purchase of 117 BTC. The firmās average purchase price for Bitcoin is 10.28 million yen ($65,365) per BTC, which is higher than the current market price.
Metaplanetās Bitcoin Strategy Mirrors MicroStrategyās Approach
Metaplanetās strategy has been compared to American software company MicroStrategy. MicroStrategy holds 214,400 BTC, valued at $13.4 billion, according to Bitbo data.
Leading Public Companies Holding Bitcoin. Source: Bitbo data
Both companies focus heavily on BTC as a primary asset. Metaplanetās recent activities show its intent to build its Bitcoin reserves.
The post Japanās Metaplanet Plans 1B Yen Bond Sale to Buy Bitcoin appeared first on CoinChapter.
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