Metaplanet, a company listed in Tokyo, plans to use the funds raised from the bond issuance to buy more Bitcoin, due to its strong belief in this largest cryptocurrency in the world.
Japanese investment company Metaplanet Inc. has announced the issuance of a regular one-year bond worth 1.75 billion yen (11.3 million USD) to buy more Bit.
The company stated that the board of directors has decided to issue the bond with an annual interest rate of 0.36%, and the raised funds will be used to purchase Bit. The maturity date is set for 17/11/2025.
"We will buy more Bit," Simon Gerovich, CEO of Metaplanet, wrote on X today.
Metaplanet has been continuously buying Bit in recent months after announcing in May that it considers Bit as a strategic reserve asset. The latest report shows that the company currently holds 1,018.17 BTC, equivalent to about 93.5 million USD at the current price, making Metaplanet one of the largest Bit holders in Asia.
Last month, the company raised around 10 billion yen (66 million USD) through a stock option exercise.
Metaplanet's stock rose 0.81% to 1,994 yen on Monday in Japan. Their stock price has increased 1,146% YTD, according to Google Finance. The Nikkei 225 index fell 1.09% on the day.
Meanwhile, MicroStrategy remains the largest publicly traded Bit holder, with 279,420 BTC, according to data from BitcoinTreasuries. Marathon Digital follows with 27,562 BTC.
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The article Metaplanet Japan issues 11.3 million USD bonds to buy Bit first appeared on CoinMoi.
