The Japanese corporation Metaplanet has just announced the issuance of a new series of bonds worth 1.75 billion yen (about $12 million).
Each bond is offered at a price of 43.75 million yen (equivalent to $283,031) and has an interest rate of 0.36% for 1 year. This series of bonds is expected to mature on November 17, 2025.
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 adopted MicroStrategy's strategy, borrowing at low interest rates to finance investments in Bitcoin. This company is currently the sole representative of Japan on the list of the largest Bitcoin-holding companies.
The amount of BTC held by Metaplanet is about to surpass Canaan, one of the leading Bitcoin mining machine manufacturers. According to the current BTC price, the company currently owns 1,018 BTC worth $92.6 million.
Meanwhile, Michael Saylor, co-founder of MicroStrategy, remains steadfast in his Bitcoin purchase strategy, even though his company owns up to $25.3 billion in Bitcoin. However, some experts warn that the strategy of borrowing to buy Bitcoin may not be sustainable, with BitMEX Research recently issuing a warning that MicroStrategy could be forced to sell some Bitcoin if pressured by shareholders.
Despite the risks, this strategy has become a model for other businesses to pivot towards Bitcoin investment. According to information from Bitcoin Magazine, the healthcare technology company Selmer Scientific has also recently announced plans to issue more debt to fund future investments in Bitcoin.
However, the adoption of Bitcoin in the business community is still in its infancy, with the number of companies outside the cryptocurrency sector participating still very limited.
All forces are gradually pooling money to buy Bitcoin, and the price of Bitcoin will continue to grow strongly. I have a group for exchanging information where you can participate to receive news; occasionally, there will be opportunities for reference. Those interested can visit my personal page to join!