Metaplanet to buy an additional $11.7 million in bitcoins
Metaplanet will raise ¥1.75 billion (over $11.7) in bonds to buy Bitcoin (BTC). The publicly listed Japanese company also announced a shareholder benefit plan.
Publicly traded company Metaplanet, listed in Japan, has announced plans to buy more Bitcoin (BTC) to fuel its growing ride.
In the year On November 18, the Tokyo Stock Exchange announced that it is looking to raise ¥1.75 billion in bonds to buy the Bitcoin treasury company, the main cryptocurrency.
The firm issued one-year 0.36% bonds for ¥1.75 billion, roughly $11.7 million, and will use the proceeds to buy more BTC. Currently, Metaplanet holds over 1,000 BTC.
Metaplanet is a Japanese micro strategy.
Metaplanet's board of directors decided to issue a third series of ordinary bonds at its meeting on November 18, 2024, according to a regulatory filing. The bond is EVO FUND and the bonds mature on November 17, 2025.
In October, Metaplanet announced the adoption of ‘BTC Yield' as a key performance indicator. This strategy followed industry pioneer MicroStrategy, which went on to inspire many other companies. Meanwhile, MicroStrategy is expecting $42 billion in capital to buy bitcoin over the next two to three years.
Earlier this month, Michael Saylor's US-based firm revealed that it had acquired an additional 27,200 BTC worth more than $2 billion. The company has accumulated 279,420 bitcoins, worth more than $11.9 billion, since it began buying small assets.
Last year, holders of MicroStrategy's treasury operations received a 26.4% BTC yield – representing 157.5 BTC per day of accumulation. Saylor recently explained that his company achieved this “without the operating costs or capital investments typically associated with bitcoin mining.
Metaplanet Announces Shareholder Benefit Plan According to the company, the program will provide shareholders with special benefits and other value-added offerings. The organization is partnering with VC Trade, Hotel Royal Oak Gotanda, Bitcoin Conference, Bitcoin Magazine and Webul Securities for this initiative.
