Metaplanet Plans $50 Million Bitcoin Acquisition Through Zero-Interest Bonds
Metaplanet, a Japanese financial firm, plans to acquire more Bitcoin through a new debt offering. It aims to raise $50 million via zero-interest bonds, with Evo Fund as the sole subscriber.
Details of the Bond Issuance
- The bonds are issued in $1.25 million denominations with no interest.
- Investors will not receive regular payments; profits depend on redemption value.
- Maturity date for the bonds is November 27, 2025.
- The bonds are unsecured, indicating high trust between Metaplanet and Evo Fund.
- This partnership continues Metaplanet's strategy for Bitcoin acquisition.
Bitcoin Acquisition Details
- Metaplanet recently acquired 1,004 BTC for $104.6 million.
- Total Bitcoin holdings now stand at 7,800 BTC, valued at over $848 million.
- Current Bitcoin price is approximately $108,799.18.
- Metaplanet ranks as Asia's largest corporate Bitcoin holder and 10th globally.
- The company views Bitcoin as a hedge against economic instability.
Competitive Landscape
Other firms, such as Strategy, are also increasing their Bitcoin holdings. Strategy has accumulated 580,250 BTC and recently bought an additional 4,020 BTC for about $427.1 million, achieving a yield of 16.8% this year.