Metaplanet plans $11.3 million bond issue to expand Bitcoin portfolio

In an attempt to grow its Bitcoin portfolio, Tokyo-listed Metaplanet has announced a new debt issue during a Board of Directors meeting held on November 18.

The filing shows the company plans to sell 1.75 billion yen ($11.3 million) worth of one-year ordinary bonds with an annual interest rate of 0.36 percent. The total amount raised will go towards Bitcoin purchases.

According to the official document, the bonds are structured with a 1-year maturity, with repayment set for November 17, 2025, at their total face value of ¥100 for every ¥100 denomination. The disposition is expected to occur immediately following the termination of all warranty and guarantee agreements.

The proceeds of this bond issue are specifically earmarked for the purchase of Bitcoin, a move that aligns with the company’s strategy to increase its cryptocurrency reserves.

Metaplanet has closely followed in the footsteps of business intelligence firm MicroStrategy by implementing a financial approach focused on Bitcoin investments. The company began acquiring BTC in April 2024 as a hedge against yen instability and concerns over Japan’s debt situation.

To date, Metaplanet holds 1,018 BTC, currently valued at approximately $93 million, according to data compiled by Bitcoin Treasuries. He also leverages options trading to further increase his cryptocurrency holdings.

The Japanese investment firm’s Bitcoin holdings still pale in comparison to MicroStrategy’s, as the latter recently increased its holdings by 51,780 BTC, for a total of 331,200 BTC. The business intelligence giant remains the largest corporate holder of Bitcoin by a significant margin.

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