Japanese hotel firm Metaplanet (3350) has announced its plans to sell an additional $21.25 million worth of bonds to finance further acquisitions of Bitcoin (BTC). This announcement underscores the company’s commitment to increasing its cryptocurrency investments amidst the evolving financial landscape.
On May 9, the Tokyo-based firm reached an agreement to issue this debt to EVO FUND, marking it as the third bond sale within just one week. Prior to this, Metaplanet successfully issued two bond sales, each valued at $25 million, showcasing a robust strategy to bolster its Bitcoin portfolio.
The upcoming bonds will not bear any interest and are set to mature on November 9. This was disclosed by Metaplanet through a post on X, emphasizing the firm’s strategic communication with its stakeholders.
Currently, Metaplanet holds an impressive stash of 5,555 BTC, valued at approximately $576 million. This positions the company as the 11th largest holder of Bitcoin among publicly traded companies and the largest outside of North America, highlighting its significant presence in the cryptocurrency market.
In a testament to its financial health and strategic positioning, Metaplanet shares saw a 2.75% increase on Friday, closing at 524 yen ($3.61). This performance outstripped the Nikkei 225 index, which gained 1.56%, reflecting investor confidence in Metaplanet’s future prospects.
For further insights into the cryptocurrency market, check out this related article: Strike CEO Mallers to Lead Bitcoin Investment Company Backed by Tether, Softbank, Brandon Lutnick
