Catenaa, Sunday, November 24, 2024- Tokyo-listed investment firm Metaplanet has announced plans to issue $11.3 million (1.75 billion yen) in ordinary bonds to bolster its Bitcoin holdings.
The decision was approved during a Board of Directors meeting on November 18, as detailed in an official filing.
The bonds, set to mature on November 17, 2025, will carry an annual interest rate of 0.36%. The funds raised will be entirely allocated to purchasing Bitcoin, reflecting the company’s commitment to expanding its cryptocurrency reserves.
Structured with a face value of ¥100 per ¥100 denomination, the issuance will proceed after all guarantee and collateral arrangements are completed.
Metaplanet began acquiring Bitcoin in April 2024, citing concerns over Japan’s mounting debt and the yen’s instability. The firm views Bitcoin as a strategic hedge against these financial risks. Currently, Metaplanet holds 1,018 BTC, valued at approximately $93 million according to Bitcoin Treasuries data. Additionally, the company employs options trading to grow its cryptocurrency assets.
Metaplanet’s approach mirrors that of MicroStrategy, a US-based business intelligence firm renowned for its aggressive Bitcoin acquisition strategy.
MicroStrategy recently increased its Bitcoin holdings by 51,780 BTC, bringing its total to 331,200 BTC, maintaining its position as the largest corporate Bitcoin holder.
While Metaplanet’s holdings remain smaller in comparison, its latest bond issuance highlights a growing trend among corporations embracing Bitcoin as a safeguard against economic uncertainty.
