Key Points
- Metaplanet plans to issue ¥1.7 billion in bonds to buy more Bitcoin (BTC).
- The company’s shares on the Tokyo Stock Exchange surged by 5% following the announcement.
Japanese investment firm Metaplanet has revealed its intentions to issue bonds valued at ¥1.7 billion to expand its Bitcoin portfolio.
The Tokyo Stock Exchange-listed firm is intensifying its Bitcoin strategy with the issuance of an ordinary bond worth approximately $11.7 million to fund more Bitcoin purchases.
Bond Details and Repayment
The third series of these ordinary bonds, assigned solely to EVO FUND, carries a yearly interest rate of 0.36%. The company’s president, Simon Gerovich, fully guarantees these bonds, as per a regulatory filing from November 18th.
The bonds will mature on November 17, 2025. The repayment is secured through a first-priority mortgage on Hotel Royal Oak Gotanda, a property owned by Metaplanet’s subsidiary, Wen Tokyo Inc.
The announcement of these plans led to a 5% increase in Metaplanet’s shares on the Tokyo Stock Exchange.
Commitment to Crypto and Shareholder Benefits
This move highlights Metaplanet’s dedication to incorporating crypto into its broader investment strategy. The company has reassured its stakeholders that the financial impact of this bond issuance on its yearly results is anticipated to be minimal. However, they have also stated that they will provide updates if significant changes occur.
Metaplanet has also introduced a new shareholder benefits program. This program offers benefits to shareholders, such as Bitcoin-related experiences and discounts. These benefits are provided through partnerships with SBI VC Trade, The Bitcoin Conference, Bitcoin Magazine, Hotel Royal Oak Gotanda, and Webull Securities to enhance shareholder engagement and promote long-term investment.
This announcement comes after Metaplanet’s recent acquisition of 156.7 BTC for approximately ¥1.6 billion. This purchase has increased the company’s total Bitcoin holdings to over 1,000 BTC, specifically 1,018 BTC.