Japan’s Metaplanet Issues 4.5 Billion Yen in Bonds for Bitcoin Purchases
Japan's Metaplanet is expanding its presence in the cryptocurrency sector, announcing plans to issue approximately 4.5 billion Yen in bonds to EVO FUND for Bitcoin expansion on December 17, 2024.
Metaplanet to Issue 4.5 Billion Yen in Bonds
This bond issuance represents Metaplanet's fourth Series of Ordinary Bond offerings since adopting Bitcoin as a strategic reserve asset earlier this year. Unlike previous issuances, this bond will have no interest rates.
*Metaplanet to issue 4.5 billion yen in Ordinary Bonds to Accelerate Bitcoin Purchases; Repayment to be made from Warrant Exercise Proceeds* pic.twitter.com/oS93rD7uXk
— Metaplanet Inc. (@Metaplanet_JP) December 17, 2024
The redemption funds will come from the exercise proceeds of previously issued warrants. The bonds have a six-month maturity, with redemption set for June 16, 2025, at their full face value of ¥100 per ¥100 denomination.
The drawdown will occur after all guarantee and collateral arrangements are finalized. Proceeds from the bond issuance are designated for Bitcoin purchases, aligning with the company's strategy to increase its cryptocurrency reserves.
Post-offering, Metaplanet plans to issue up to 5 billion Yen in private placement bonds to the same bondholder (EVO FUND). Like prior sales, proceeds from these future offerings will also be allocated for Bitcoin purchases.
Corporate Bitcoin Purchases
Metaplanet is currently the largest corporate Bitcoin holder in Asia, with total BTC holdings exceeding 1,150 following its last purchase on November 19. Other financial firms are similarly embracing Bitcoin as a hedge against inflation. For instance, Indian Jetking Infotrain recently became the first publicly traded Indian company to acquire Bitcoin, purchasing 12 BTC on December 9.
MicroStrategy has also been active, adding 15,350 Bitcoins to its holdings between December 9 and December 15 for approximately $1.5 billion, acquiring them at an average price of $100,386 per BTC. Additionally, Semler Scientific Inc., a healthcare technology firm, purchased 211 BTC, raising its total holdings to 2,084 BTC.