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Metaplanet launches bond issuance to expand Bitcoin reserves
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Japanese investment company Metaplanet announced the issuance of ordinary bonds worth 1.75 billion yen (equivalent to more than US$11 million), according to a statement released on November 18. The objective of fundraising is to expand your Bitcoin reserves.
The company has been adopting this strategy of purchasing BTC in order to diversify its assets and mitigate the economic challenges faced by Japan.
The bonds, which will have an annual interest rate of 0.36% and mature on November 17, 2025, were destined exclusively to the EVO FUND. It is an investment management entity that has a significant stake in Metaplanet.
Although the bonds are not directly collateralized, the issue will be guaranteed by a property owned by the subsidiary Wen Tokyo: the Royal Oak Gotanda Hotel. The property has the protection of a first priority mortgage. In this way, it offers security to bond holders in case of possible claims.
MicroStrategy-like strategy
Metaplanet’s bond issuance reflects a similar approach to MicroStrategy. The Michael Saylor-led company often leverages debt to acquire large amounts of Bitcoin.
Recently, MicroStrategy announced plans to raise US$42 billion for the same purpose, maintaining its position as the largest Bitcoin holder among publicly traded companies, with 279,420 BTC valued at around US$26 billion.
Since April, Metaplanet has acquired 1,018 BTC, with a total value estimated at US$92.33 million, according to data from Bitcoin Treasuries. This strategy resulted in a significant increase of 1,150% in the company’s share price throughout 2024, according to data from Google Finance.
According to data from CoinGecko, the price of Bitcoin today, November 18, is at US$90,727, with a daily decline of 0.6%. Still, BTC accumulates a weekly increase of more than 10%.
In addition to its Bitcoin investment initiatives, Metaplanet announced a shareholder benefits program. The objective is to strengthen relationships with investors and attract new interested parties. Among the advantages offered are Bitcoin raffles, discounts on tickets to events linked to the crypto market and access to exclusive experiences in the cryptocurrency ecosystem.
The program will be for shareholders registered until December 31, 2024, as part of a strategy to increase the attractiveness of the company’s shares in the medium and long term.
Metaplanet launches bond issuance to expand Bitcoin reserves
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Metaplanet launches bond issuance to expand Bitcoin reserves
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Metaplanet launches bond issuance to expand Bitcoin reserves
