Metaplanet announced a new bond issuance to increase its Bitcoin investments, reflecting its strategy to expand its crypto investment portfolio.
Company Decision
This decision, approved by the company's board, marks the ninth round of ordinary bond issuance, underscoring its commitment to strengthening cryptocurrency investments. Metaplanet plans to allocate the proceeds from this issuance to purchasing additional Bitcoin, aligning with its broader strategy to bolster its BTC holdings.
Bond Issue Features
The bonds are interest-free and scheduled for full redemption on September 17 at a rate of ¥100 per ¥100 of face value. However, EVO FUND has the option for early redemption by submitting a written notice to Metaplanet, allowing for flexible partial or complete bond redemption. The company plans to fund the redemption using proceeds from the 14th to 17th Series of Stock Acquisition Rights.
Asset Accumulation Strategy
The latest issuance follows a similar move on February 27, when Metaplanet issued bonds worth ¥2 billion. As previously, the funds are earmarked for additional BTC purchases. The company has successfully increased its Bitcoin holdings to 3,050 BTC, with the latest purchase amounting to 162 BTC at an average price of 12.39 million yen per Bitcoin. Metaplanet's total Bitcoin holdings are now valued at nearly $250 million.
In conclusion, Metaplanet continues to solidify its position in the digital asset market, adhering to its aggressive Bitcoin portfolio expansion strategy.
