Metaplanet Initiates $6.3 Million Bond Issue in Japan to Acquire Bitcoin.
Metaplanet, a publicly listed company based in Japan, has announced plans to raise approximately 1 billion yen (about $6.26 million) through unsecured bonds. The proceeds from this bond issuance will be used to purchase Bitcoin, often referred to as digital gold in the cryptocurrency market.
The bonds, offering a competitive 0.5% interest rate, will mature in one year with scheduled coupon payments.
Investors and market analysts have responded positively to Metaplanet's strategic move. Following the announcement, shares of the company surged by 9.2%, according to Finance.Yahoo.
In June 2024, Metaplanet reported acquiring 23,351 BTC, valued at approximately $1.58 million at the time of purchase. This acquisition significantly increased their total holdings in Bitcoin to 141.07 BTC, worth approximately $9.54 million.
Earlier in April, Metaplanet announced its decision to shift funds from its treasury to Bitcoin, highlighting its growing confidence in the digital asset as a strategic investment. $BTC
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