Metaplanet To Issue $11.3 Million In Bonds To Boost Bitcoin Reserves, Echoing MicroStrategy

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Updated: 18 November 2024

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Metaplanet Inc., often called Japan’s MicroStrategy, has announced the issuance of one-year bonds worth 1.75 billion yen ($11.3 million) to fund further Bitcoin purchases.

The move marked the latest in a series of aggressive steps by the company to buy Bitcoin. The Tokyo Stock Exchange-listed company, led by CEO Simon Gerovich, has been actively expanding its BTC holdings, reflecting its bullish outlook on the king of cryptos.

The bonds will mature on November 17, 2025.

More #bitcoin purchases incoming https://t.co/3N4Z364Pkt

— Simon Gerovich (@gerovich) November 18, 2024

Metaplanet Expands Bitcoin Reserves To $93.5 Million

Metaplanet’s latest filings reveal that its current Bitcoin reserves stand at 1,018.17 BTC, valued at around $93.5 million at today’s market prices. This places the firm among Asia’s top corporate Bitcoin holders.

This announcement comes after the firm successfully raised 10 billion yen, or $66 million, in its fundraising last month by exercising stock acquisition rights. Metaplanet’s stock price edged up 0.81% to 1,994 yen.

Its stock has soared about 1,146% so far this year, while the Nikkei 225 index declined 1.09% in the same period.

Metaplanet’s use of traditional capital raising tools to strengthen its position in the booming cryptocurrency market mirrors that of MicroStrategy, the leading publicly traded corporate holder of Bitcoin, with 279,420 BTC.

Other notable corporate holders of Bitcoin include Marathon Digital with 27,562 BTC.

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