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CoinTelegraph 2025-05-09 06:18:18

Metaplanet is raising another $21M through bonds to buy more Bitcoin

Fresh off its most recent Bitcoin purchase, Japanese investment firm Metaplanet is raising more funds through another bond issue to expand its growing crypto treasury. Through a $21.25 million issue of “0% Ordinary Bonds,” all the “funds raised will be allocated to the purchase of Bitcoin,” the firm said in a May 9 statement. Zero-coupon bonds don’t offer any interest to the holder. Most of the time, they are issued at a steep discount from their normal value, and when they mature, the holder receives the full value. After its most recent May 9 board of directors meeting, the firm said it will issue a 14th Stock Acquisition Rights to EVO Fund, an investment management firm in the Cayman Islands, with a redemption date of Nov. 7. Source: Metaplanet At current prices, Metaplanet could buy 206 Bitcoin ( BTC ) if it raises the full $21.25 million, according to CoinGecko. The firm first flagged plans to buy Bitcoin last April. With its current stash, BitcoinTreasuries.NET shows Metaplanet is Asia’s largest public corporate holder of Bitcoin and ranks 11th globally. Metaplanet’s stock (3350T) has shot up over 1,600% in the last year and is trading for 511 Japanese yen ($3.50), according to Google Finance. Metaplanet’s share price has shot up significantly in the last year. Source: Google Finance Metaplanet just keeps buying Bitcoin On May 7, the Tokyo-listed firm disclosed that it spent $53.4 million acquiring 555 Bitcoin at an average price of $96,134. The company now holds 5,555 BTC, purchased for $481.5 million at an average price of $86,672. Metaplanet also announced on May 7 the issuance of another $25 million in zero-coupon ordinary bonds to fund more Bitcoin buys On May 1, Metaplanet said it would launch a wholly owned US subsidiary, Metaplanet Treasury, based in Florida. It plans to raise $250 million to further its Bitcoin strategy and tap the US capital markets. Related: How much Bitcoin can Berkshire Hathaway buy? Meanwhile, a growing number of companies have decided to add Bitcoin to their balance sheets, following in the steps of Michael Saylor’s company , Strategy, formerly MicroStrategy. Strive Asset Management announced on May 7 that it will transition into a Bitcoin treasury company . Meanwhile, video game retailer GameStop Corporation (GME) finished a convertible debt offering on April 1 that raised $1.5 billion , with some proceeds earmarked for buying Bitcoin. Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review

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