Japanese firm Metaplanet issues $13.3M in bonds to buy more Bitcoin
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Metaplanet, dubbed “Asia’s MicroStrategy,” issued 2 billion yen ($13.3 million) in zero-interest bonds to capitalize on Bitcoin’s recent price dip and expand its BTC holdings.
Metaplanet — a Japanese firm following in Strategy’s footsteps by focusing on accumulating Bitcoin — just issued 2 billion Japanese yen ($13.3 million) of bonds to buy more BTC.
According to a March 31 filing, Metaplanet issued the zero-interest bonds by allocating them via its Evo Fund to fuel its Bitcoin purchases. Investors will be allowed to redeem the newly-issued securities at full face value by Sept. 30 this year.
The firm’s CEO, Simon Gerovich, wrote in an X post that the company was taking advantage of the recent downturn in Bitcoin prices. The announcement comes as Bitcoin changed hands for around $82,000 at the time of writing — nearly 25% down from its all-time high of over $109,000.
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