Japanese investment firm Metaplanet has announced the issuance of another set of 0% ordinary bonds worth $13.35 million to EVO FUND, aiming to acquire more Bitcoin.
New Bond Issuance
According to a recent notice, the Tokyo-based investment firm is issuing ¥2 billion in bonds to EVO FUND. This decision was made at the company’s board meeting and marks the ninth issuance of ordinary bonds by the Japanese firm.
Objectives and Fund Usage
In a March 18 regulatory filing, it is stated that the funds raised will be used to purchase more Bitcoin. This move is in line with the firm's strategy to grow its BTC holdings, making it one of the largest corporate Bitcoin holders in Asia. The bonds carry no interest and can be redeemed in full on September 17 at face value. However, EVO FUND has the option to redeem the bonds early with a written notice at least one business day prior.
Background and Current Actions
It should be noted that on February 27, Metaplanet issued bonds of the same amount. Since April 2024, the firm has been gradually increasing its BTC holdings. On March 12, Metaplanet purchased an additional 162 BTC, bringing its total holdings to 3,050 BTC.
Metaplanet continues to invest heavily in Bitcoin, using bonds as a mechanism to raise funds, underlining its long-term strategy to increase cryptocurrency assets.
