A Japanese business known as Metaplanet has revealed that it intends to issue a further set of bonds with a maturity of one year in order to finance its ongoing Bitcoin purchases.
Metaplanet has been making efforts to increase its cryptocurrency reserves since May 2024, and this action is reminiscent of MicroStrategy’s aggressive Bitcoin strategy. As a result of this revelation, the company’s shares had a short swift rise beyond the 2,000 JPY level on Monday before encountering resistance.
The most recent bond purchase has a coupon rate of 0.36% and a total value of ¥1.75 billion, which is equivalent to around $11.3 million. All of the proceeds will be used toward growing the amount of Bitcoin that the corporation currently has, which is more than one thousand BTC.
A further component of this strategic approach is the use of Bitcoin options for the purpose of optimizing their portfolio. This strategy was a significant factor in the remarkable 155% return that they achieved on their Bitcoin investments during the most recent quarter.
Metaplanet is planning to add around 122 additional Bitcoins to its holdings via this program. This comes at a time when the price of Bitcoin is hovering close to $90,000. This continued development is a reflection of the company’s dedication to incorporating cryptocurrencies into its overall financial plan as well as its opinion that Bitcoin is a valued asset.
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