📣 Metaplanet to Issue Over $11M Bonds to Purchase Bitcoin
posted 18 Nov 2024
Tokyo-based investment firm Metaplanet announced issuing 1.75 billion yen (over $11 million) to increase its Bitcoin holdings.
Sharing the news on X, Metaplanet’s CEO Simon Gerovich said more Bitcoin purchases will come.
In a statement published on November 18, 2024, the company said the annual interest rate of the bonds is 0.36% with a redemption date set on November 17, 2025.
Sharing the news on X, Metaplanet’s CEO Simon Gerovich said more Bitcoin purchases will come.
Metaplanet’s Board of Directors expects that the impact of this issuance will be minimal for the fiscal year ending December 2024.
The company also announced a Shareholder Benefit Program, encouraging shareholders to hold the stock over the medium to long term. Metaplanet mentioned:
Metaplanet announced adopting Bitcoin as the primary component of its treasury assets in early April 2024. In the notice, the company mentioned the Japanese yen’s depreciation over the past several years while Bitcoin has risen steadily despite value fluctuations through different cycles.
Then, the company announced that it would raise 935 million yen (over $6M) to deploy the capital into Bitcoin as part of its cash management strategy to minimize Japanese yen exposure.
The company also announced a Shareholder Benefit Program, encouraging shareholders to hold the stock over the medium to long term. Metaplanet mentioned:
Since adopting a Bitcoin standard, our community has grown rapidly, and we anticipate even greater engagement as we continue to introduce Japan to the world of Bitcoin.
Through the program, shareholders can access products and services, discounts, and special offers.
Metaplanet announced adopting Bitcoin as the primary component of its treasury assets in early April 2024. In the notice, the company mentioned the Japanese yen’s depreciation over the past several years while Bitcoin has risen steadily despite value fluctuations through different cycles.
Then, the company announced that it would raise 935 million yen (over $6M) to deploy the capital into Bitcoin as part of its cash management strategy to minimize Japanese yen exposure.
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