Metaplanet Announces ¥1.75 Billion Debt Sale for Bitcoin Acquisition
Metaplanet, often referred to as the Asian MicroStrategy, plans to conduct a debt sale to increase its Bitcoin holdings. The Tokyo-based firm announced this on X, detailing a debt sale involving one-year ordinary bonds totaling 1.75 billion yen (approximately $11.3 million) at an annual interest rate of 0.36%.
Metaplanet Holds More than 1,000 Bitcoin
Proceeds from the debt sale will be allocated for further Bitcoin purchases, following MicroStrategy Inc (NASDAQ: MSTR)'s strategy. Metaplanet has acquired over 1,000 Bitcoin in eight months, starting in April to mitigate risks associated with Japan's debt and yen volatility. The firm's Bitcoin investment approach addresses economic pressures in Japan, including high government debt levels and negative real interest rates.
*Metaplanet Issues ¥1.75 Billion in 1-year 0.36% Bonds, Proceeds to Fund Additional Purchases of $BTC* pic.twitter.com/Jv3IEylplA
— Metaplanet Inc. (@Metaplanet_JP) November 18, 2024
In October alone, Metaplanet added over 600 BTC. Recently, it purchased an additional 156 BTC valued at 1.6 billion Japanese Yen, bringing total holdings to 1018.17 BTC. At Bitcoin’s current market price of $91,636.92, Metaplanet's holdings are valued at over $93.3 million. This increase in BTC value has resulted in significant profits, with gains exceeding $28 million when Bitcoin was priced around $87,000 on November 13.
MicroStrategy Remains the Undisputed Bitcoin Accumulator
Despite holding 1018.17 BTC, Metaplanet remains far from MicroStrategy’s holdings, which stand at approximately 279,420 BTC, worth about $25.6 billion. MicroStrategy's Bitcoin acquisition strategy began during the COVID-19 pandemic and has consistently grown since then. The company's current holdings surpass cash reserves of Nike Inc. and IBM Corp, equaling ExxonMobil’s treasury but trailing Intel and General Motors, which have around $29 billion and $32 billion respectively.
MicroStrategy aims to acquire $42 billion in Bitcoin over the next three years, planning yearly investments of $10 billion in 2025, $14 billion in 2026, and $18 billion in 2027. The company will explore various financial options for funding, including $21 billion from equity and $21 billion from fixed-income securities.
While MicroStrategy is a leading corporate holder of Bitcoin globally, Metaplanet has emerged as the largest corporate holder of BTC in Asia.