Bitcoin

DeFi

Planet

Billion

<div class="intro-text">
 Tokyo-based investment and consulting firm Metaplanet Inc. <a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/be5f5cac/3cbe/445b/9890/15ba01b5994d/140120240620533309.pdf" rel="noopener noreferrer nofollow">announced</a> on Monday, June 24, its plans to issue 1 billion yen (approximately 6.26 million dollars) worth of bonds to finance Bitcoin acquisitions for long-term holding.&nbsp;
</div>
According to the announcement:&nbsp;
<blockquote>
 “Metaplanet Inc announced today that its Board of Directors has resolved to purchase Bitcoin worth 1 billion yen. This decision was made during today’s board meeting, and the funds for this purchase will be allocated from the capital raised through the issuance of the second series of ordinary bonds (with guarantees).”
</blockquote>
&nbsp;
The firm <a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/f32937b7/0b20/4e90/b619/4f9352c1bbbf/140120240620533311.pdf" rel="noopener noreferrer nofollow">disclosed</a> that its board approved the initiative, and the bonds will carry an annual interest rate of 0.5%.
Following the announcement, Metaplanet’s shares surged by 11.5% to 96 yen (60 cents), continuing the remarkable over 500% increase in its stock price this year, <a href="https://www.google.com/finance/quote/3350:TYO" rel="noopener noreferrer nofollow">according to Google Finance</a>.&nbsp;
Meanwhile, Bitcoin experienced a downturn, dropping 2.6% in the past day to 62,733 dollars after nearly reaching 72,000 dollars in early June, as <a style="color: #0000ff;" href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">reported by CoinGecko</a>.
If Metaplanet proceeds with purchasing 1 billion yen worth of Bitcoin at current prices, the firm would acquire nearly 100 BTC, approximately 99.84 BTC. This acquisition would augment its existing cryptocurrency holdings, which stood at 141.07 BTC as of June 11, when the firm <a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/7a1b93bb/ab2b/4713/abe9/e2ce84dbdd8a/140120240610525851.pdf" rel="noopener noreferrer nofollow">acquired</a> an additional 23.25 BTC.&nbsp;&nbsp;
Metaplanet initially <a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/d6c0a821/cb05/4b92/a47b/ce61ea935a66/140120240509587510.pdf" rel="noopener noreferrer nofollow">purchased</a> 117 BTC in mid-May, embracing a “Bitcoin-first, Bitcoin-only” strategy for its treasury in response to ongoing economic pressures in Japan. This move is part of a broader strategic shift in its treasury management.&nbsp;
&nbsp;
In a statement on May 13, 2024, the firm <a style="color: #0000ff;" href="https://defi-planet.com/2024/05/tokyo-based-investment-firm-metaplanet-shifts-to-bitcoin-only-reserve-strategy-amid-yens-decline/" rel="noopener noreferrer nofollow">announced </a>it was adopting a “Bitcoin-first, Bitcoin-only” approach in response to Japan’s sustained economic pressures.&nbsp;
<blockquote>
 “This move is a direct response to sustained economic pressures in Japan, notably high government debt levels, prolonged periods of negative real interest rates, and the consequently weak yen,” 
</blockquote>
the company stated.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/06/metaplanet-to-issue-1-billion-yen-in-bonds-to-acquire-more-bitcoin/" rel="noopener noreferrer nofollow">Metaplanet to Issue 1 Billion Yen in Bonds to Acquire More Bitcoin</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Metaplanet to Issue 1 Billion Yen in Bonds to Acquire More Bitcoin

DeFi Planet

2024年6月24日公開の他の記事

Could Ethereum ETFs lead to ETH’s downfall? Expert weighs in

Million Dollar Support for Bitcoin from Asia's MicroStrategy!

Best Crypto Presale in June 2024: MoonBag Overtakes Bitbot and Kangamoon As It Raises $2.8M

An Interview With Usual Labs

Meet 2024’s 5 Trending Crypto Presales: A Golden Chance You Can’t Miss

Crypto Market Hit with $300 Million Liquidation Spree Amid Bitcoin's Crash

ニュースレターを購読して暗号資産の最新情報を毎日入手！