Japanese investment firm Metaplanet announced Monday that it is issuing a third series of ordinary bonds, aiming to raise 1.75 billion yen ($11.3 million) to finance Bitcoin purchases.
The company’s director underwrote the bonds, which offer an annual interest rate of 0.36%. They are scheduled to be redeemed in November 2025. Metaplanet also stated that it expects a minimal financial impact on results in 2024.
The filing shows that the bond is not directly secured. However, the agreement provides collateral through the land and building of the Royal Oak Gotanda Hotel. Wen Tokyo, a wholly owned subsidiary, owns the property. It is secured by a first-priority mortgage to cover any financial claims the bondholder might make against the guarantor.
Metaplanet’s Bitcoin holdings exceed $64 million
Metaplanet recently announced a $28 million valuation increase from its Bitcoin investment. As a result, the company now holds 1018 BTC, according to Bitcoin Treasuries. The company has become the top corporate Bitcoin holder in Asia. Its investments have exceeded $64 million. This growth has occurred despite ongoing expenses affecting its financial performance.
MicroStrategy consolidates lead in bitcoin
Metaplanet Inc. is actively adopting a financial strategy similar to MicroStrategy, making significant investments in Bitcoins. Inspired by MicroStrategy’s success, the company intends to use Bitcoins as a treasury reserve asset and a tool to increase shareholder value.
Meanwhile, MicroStrategy recently solidified its position as the leading corporate holder of Bitcoins by acquiring 27,200 BTC. With this latest purchase , the company’s total Bitcoin holdings have risen to about 279,420 BTC, bought at a total cost of $11.9 billion.
