MetaplanetA publicly-traded Japanese company has purchased another ¥500 million The firm has purchased bitcoins in the amount of $3.7million. This latest buy comes after the firm secured a ¥1 billion loan last week to acquire Bitcoin.
JUST IN: 🇯🇵 Japanese public company Metaplanet buys another ¥500 million worth of #Bitcoin pic.twitter.com/utiXEwsymM
— Bitcoin Magazine (@BitcoinMagazine) August 20, 2024
Metaplanet bought 57.273 bitcoins at an average price of ¥8.73 million per bitcoin. This brings its total Bitcoin holdings to 360.368 bitcoins acquired for ¥3.45 billion ($25.6 million).
Metaplanet first announced plans to raise ¥10.08 billion through a public offering to fund Bitcoin purchases on August 6. One week later it secured a ¥1 billion The loan was used to buy Bitcoin and has so far been used to purchase more than 100 Bitcoin.
It is increasing its Bitcoin holdings by aggressively borrowing at low-interest rates. It is similar to the “buy Bitcoin strategy” You can also find out more about the following: MicroStrategySince 2020, has been selling debt and equity in order to accumulate over 226,500 Bitcoin Treasury.
Marathon Digital Holdings and other public Bitcoin buyers have raised funds recently. $300 million of convertible notes Buy Bitcoin Semler Scientific Also issued equity and bonds partly for the purchase of Bitcoin.
Metaplanet’s loans and shares offerings for Bitcoin purchase illustrates public companies’ use of markets. Bitcoin is becoming more mainstream, and firms treat it like a reserve currency.
Bitcoin Magazine was founded by BTC Inc. and is owned 100% by them. UTXO ManagementMetaplanet was invested by, an allocator of regulated capital focused on digital assets. UTXO is a regulated capital allocator that focuses on the digital assets industry. It has invested in Metaplanet.
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Source: bitcoinmagazine.com
