Japanese firm Metaplanet issues $13.3M in bonds to buy more Bitcoin
Metaplanet issued 2 billion yen ($13.3 million) in zero-interest bonds to capitalize on Bitcoin’s recent price dip and increase its BTC holdings.
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.
According to a March 31 filing, Metaplanet issued the zero-interest bonds by allocating them via its Evo Fund to fuel its Bitcoin purchases. Investors will be allowed to redeem the newly-issued securities at full face value by Sept. 30.
The firm’s CEO, Simon Gerovich, wrote in an X post that the company was taking advantage of the recent downturn in Bitcoin prices. The announcement comes as Bitcoin changed hands for about $82,000 at the time of writing, down 25% from its all-time high of over $109,000.
