Japanese investment firm Metaplanet is intensifying its Bitcoin acquisition strategy by issuing $21.25 million in zero-coupon bonds, with all proceeds earmarked for purchasing more Bitcoin. This move follows closely on the heels of its recent $53.4 million investment to acquire 555 BTC, bringing its total holdings to 5,555 BTC.
The newly issued bonds, termed “0% Ordinary Bonds,” offer no interest to holders and are typically sold at a discount, maturing at full face value. Metaplanet plans to allocate these bonds to EVO Fund, an investment management firm based in the Cayman Islands, with a redemption date set for November 7.
At current Bitcoin prices, the funds raised could enable the purchase of approximately 206 BTC, further solidifying Metaplanet’s position as Asia’s largest public corporate holder of Bitcoin and the 11th largest globally.
In addition to its aggressive acquisition strategy, Metaplanet announced plans on May 1 to establish a wholly owned U.S. subsidiary, Metaplanet Treasury, based in Florida. The subsidiary aims to raise up to $250 million to further its Bitcoin strategy and tap into U.S. capital markets.
Investor’s Business Daily
Metaplanet’s stock (3350T) has experienced a significant surge, increasing over 1,600% in the past year, reflecting investor confidence in its Bitcoin-centric approach.
This latest bond issuance underscores Metaplanet’s commitment to expanding its Bitcoin reserves, aligning with a broader trend of corporations integrating cryptocurrency into their treasury strategies.
