Metaplanet — a Japanese firm following in Strategy’s footsteps by focusing on accumulating Bitcoin — issued 2 billion Japanese yen ($13.3 million) of bonds to buy more BTC.
The March 31 filingMetaplanet has issued zero-interest bonds via the Evo Fund, which is used to fund its Bitcoin purchases. The newly issued securities will allow investors to redeem them at their full value before September 30.
Simon Gerovich wrote an article in the X post The company took advantage of recent price drops in Bitcoin. Bitcoin traded for around $82,000 when this article was written, down about 25% from the all-time record high of more than $109,000.
Related: Metaplanet share price rises 4,800% as company stacks BTC
Source: Simon Gerovich
According to BitcoinTrasuries, Metaplanet ranks 10th among the top corporations in the world for Bitcoin holdings. data. The firm currently owns approximately 3,200 Bitcoin, worth around $1.23 billion.
Follow in the footsteps giants
Metaplanet has been called many things “Asia’s MicroStrategy,” As its corporate plan is similar to that of Strategy, the US-based firm that has shifted its focus on accumulating Bitcoins (BTC). Metaplanet’s US-based elder brother holds the most corporate Bitcoins with nearly $82 Billion in its bank accounts, or more than 2 percent of the 21,000,000 Bitcoins limit.
Related: Metaplanet tips first operating profit in 7 years, boosted by Bitcoin
This month has been a busy one for us. Metaplanet purchased 150 BitcoinIt is still a long way from its target of 21,000 BTC. The firm’s shares jumped by 19% on March 1st, less than one day after the announcement. splurged $44 million to add Bitcoin to its coffers.
Also this month Metaplanet started exploring a potential US listing Gerovich said that the company had acquired another 156 BTC. Gerovich told the press at that time:
“We are considering the best way to make Metaplanet shares more accessible to investors around the world.”
A company that is becoming increasingly influential
Metaplanet has made powerful allies in the US politics. The company had a successful launch in early March. appointed US President Donald Trump’s son Eric Metaplanet will be working with its newly formed strategic board to achieve the mission of becoming a “global leader in the Bitcoin economy.” The company representatives at that time said:
“Eric Trump brings a wealth of experience in real estate, finance, brand development, and strategic business growth and has become a leading voice and advocate of digital asset adoption worldwide.”
Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
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Source: cointelegraph.com
