Japanese company Metaplanet has announced a bond issuance worth two billion yen to acquire more Bitcoin. This strategy underscores its ambition to become one of the largest corporate cryptocurrency holders.
Metaplanet's New Bond Offering
Japanese public company Metaplanet has announced another debt offering to Evo Fund of two billion yen ($13 million). These are zero-coupon bonds, which means they do not pay interest, setting them apart from traditional bonds. The funds raised will be used to purchase more Bitcoin.
Plans for Expanding Bitcoin Holdings
Previously known as a budget hotel operator, Metaplanet has now emerged as one of the top corporate holders of Bitcoin, with holdings nearing the $1 billion mark. Last month, the company announced that its hotel business operating profits grew by 44% in 2024, while revealing plans to transform a Tokyo hotel into 'The Bitcoin Hotel.'
CEO's Remarks
Metaplanet CEO Simon Gerovich recently expressed his concern over the limited time to purchase Bitcoin. 'Every time I think about Bitcoin, I get really nervous that we're running out of time,' he said during an appearance on the Coin Stories Podcast. The company recently made an additional purchase of 162 BTC.
Metaplanet's continued efforts to increase its Bitcoin reserves highlight the company's ongoing confidence in cryptocurrency's future. This move also exemplifies their strategy for diversification and adaptation to the evolving financial landscape.
