- Metaplanet to raise ¥1.75 billion (over $11.7) in bonds to buy Bitcoin (BTC).
- The publicly-listed Japanese company has also unveiled a shareholder benefits program.
Metaplanet, a publicly-traded company listed in Japan, has announced plans to buy more Bitcoin (BTC) to add to its growing haul.
On Nov. 18, the Tokyo Stock Exchange listed Bitcoin Treasury Company announced it was looking to raise ¥1.75 billion in bonds to buy the flagship cryptocurrency.
The firm has issued one-year 0.36% bonds at ¥1.75 billion, approximately $11.7 million, and will use the proceeds to purchase more BTC. Currently, Metaplanet holds over 1,000 BTC.
Metaplanet is Japan’s MicroStrategy
Metaplanet’s board of directors resolved to issue the third series ordinary bonds during a meeting held on November 18, 2024, according to a regulatory disclosure. The bondholder will be EVO FUND, while the bonds will mature on November 17, 2025.
In Oct., Metaplanet announced it had adopted ‘BTC Yield’ as a key performance indicator. This followed the industry pioneer MicroStrategy whose strategy continues to inspire several other companies. On its part, MicroStrategy is eyeing $42 billion in capital over the next two-to-three years to buy Bitcoin.
Earlier this month, Michael Saylor revealed the US-based firm had acquired an addition 27,200 BTC for over $2 billion. Since the company started buying the scarce asset, it has hoarded 279,420 bitcoins purchased for over $11.9 billion.
Over the past year, MicroStrategy’s treasury operations have seen holders get 26.4% in BTC Yield &- representing 157.5 BTC in daily accumulation. As Saylor recently noted, his company has achieved this “without the operational costs or capital investments typically associated with bitcoin mining.”
Metaplanet has announced a shareholder benefits program. According to the company, the program will offer exclusive perks and other added value offerings to shareholders. The firm is teaming up with VC Trade, Hotel Royal Oak Gotanda, The Bitcoin Conference, Bitcoin Magazine, and Webull Securities on this initiative.
The post Metaplanet to buy additional $11.7 million Bitcoin appeared first on CoinJournal.
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