Metaplanet Raises $23 Million to Increase Bitcoin Holdings

Metaplanet, a Tokyo-based firm, is strategically leveraging financial instruments to increase its Bitcoin holdings. The company has announced the successful issuance of ordinary bonds, raising a substantial 3.6 billion JPY (approximately US$23 million), with the intention of deploying these funds towards the acquisition of additional Bitcoin.

Furthermore, Metaplanet disclosed via X that it is issuing 3.6 billion JPY ($23 million) in ordinary bonds to directly expand its Bitcoin reserves.

Metaplanet Aims to Increase Bitcoin Holdings

The announcement confirms that the Board of Directors duly authorized this capital raise, marking Metaplanet’s 12th ordinary bond issuance. This repeated recourse to bond issuance highlights the company’s proactive and resourceful approach to financing its Bitcoin accumulation objectives.

Moreover, Metaplanet has interestingly structured these novel bonds. They will not pay interest. Instead, investors will only receive their principal when the bonds mature in late October 2025. Metaplanet stated that with the bond plans finalized, the sole purpose of selling these bonds is to acquire more Bitcoin.

Notably, the firm just bought enough to own over 5,000 Bitcoin, acquiring 145 BTC in late April. But Metaplanet is not stopping there. The company wants more money to buy even more Bitcoin and it is selling bonds to raise this money.

Notably, with the current price of Bitcoin, Metaplanet’s $23 million should allow it to buy around 250 BTC. This will help the company get closer to its goal of holding 10,000 Bitcoins by the end of 2025.

Bitcoin Buying Spree

The Japanese firm announced on Thursday, May 1st, that it plans to open a new office in the United States as part of its growth strategy. The company, based in Tokyo, said it will open an office in Florida. The new office is also expected to raise around $25 million to help its Bitcoin plan.

According to the company, the new office is a smart move to improve its operations worldwide, capitalize on opportunities in the U.S. market, and help the firm grow as a leading business in the Bitcoin industry.

Metaplanet’s commitment to buying more Bitcoin shows they believe in the cryptocurrency. The firm has noted in the past that it wants to hold 10,000 BTC by the end of this year and 21,000 by 2026, a noble target.

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