Japanese investment firm Metaplanet has announced plans to issue bonds aimed at increasing its Bitcoin reserves and expanding into the U.S. market.
Bond Issuance for Bitcoin Purchase
Metaplanet has announced the issuance of new ordinary bonds totaling $21.25 million. The proceeds from the bond sale will be directed toward acquiring additional Bitcoin. This marks the firm's 14th issuance of securities, with a redemption date set for November 7. Based on current Bitcoin prices, Metaplanet could acquire about 206 BTC.
Plans to Open a U.S. Subsidiary
In addition to the bond issuance, Metaplanet announced plans to establish a U.S. subsidiary based in Miami. The firm aims to raise $250 million from U.S. institutional investors to support its Bitcoin accumulation strategy.
Bitcoin Accumulation Strategy and Its Implications
Metaplanet is actively pursuing a Bitcoin accumulation strategy, similar to that of other firms, including Michael Saylor and Strive Asset Management, which are also shifting towards such strategies. Currently, Metaplanet holds 5,555 Bitcoin, making it the largest corporate holder of Bitcoin in Asia.
Metaplanet's expansion into the U.S. market and its new bond issuance underscore the growing interest in Bitcoin and its recognition as a strategic asset among corporate investors.
