Metaplanet to Issue ¥4 Billion in Bonds for Bitcoin Purchases
Metaplanet Inc. (Tokyo: 3350) has announced its financial data for 2024 and plans to strengthen its Bitcoin investment strategy. Key details include:
- Net valuation of approximately ¥213 billion.
- Aim to acquire at least 10,000 Bitcoins by the end of 2025 and 21,000 by the end of 2026.
- Investor support from Norges Bank and Capital Group, which manages over $2.7 trillion in assets.
Plans for Additional Bitcoin Purchases
Metaplanet plans to issue ¥4 billion (around $26.3 million) in ordinary bonds to finance additional Bitcoin purchases. The bond issuance will have no interest rate or collateral, with minimal impact expected on consolidated financial results for the fiscal year ending December 2025.
- Current holding of about 1,762 Bitcoins, representing roughly 15% of market cap.
- Potential to mirror Strategy's Bitcoin holdings, which exceed 50% of their market cap.
Financial Highlights for 2024
In the fourth quarter and full-year results for 2024, Metaplanet reported:
- Unrealized gains of approximately $35 million from Bitcoin holdings.
- 1,720% increase in total assets to around ¥30.3 billion.
- First operating profit since 2017.
- 500% increase in shareholder base to over 50,000.
- 334% gain in Bitcoin holdings during Q4, rising from 398 to about 1,332 Bitcoins.
Following these announcements, the company's stock rose 7.5%, closing at about ¥5,880.