Metaplanet to Raise $11.3M Through Bonds to Fund Bitcoin Acquisition

Japanese investment firm Metaplanet on Monday announced it is issuing a third series of ordinary bonds, aiming to raise 1.75b yen ($11.3m) to fund its Bitcoin purchases.

The company’s director has guaranteed the bonds, which offer an annual 0.36% interest rate. They are set for redemption in November 2025. Metaplanet also stated that it expects minimal financial impact on its 2024 results.

The filing shows that the bond is not directly collateralized. However, the contract provides security through the land and building of Hotel Royal Oak Gotanda. Wen Tokyo, a wholly-owned subsidiary, owns this property. It is secured with a first-priority mortgage to cover any financial claims the bondholder might make against the guarantor.

*Metaplanet Issues ¥1.75 Billion in 1-year 0.36% Bonds, Proceeds to Fund Additional Purchases of $BTC* pic.twitter.com/Jv3IEylplA

— Metaplanet Inc. (@Metaplanet_JP) November 18, 2024

Metaplanet’s Bitcoin Holdings Surpass $64M After $28M Valuation Gain

Recently, Metaplanet announced a $28m valuation gain from its Bitcoin investments. Consequently, the company now holds 1,018 BTC, according to Bitcoin Treasuries.

The company has become a major Bitcoin corporate holder in Asia. Its investments have exceeded $64 million. This growth comes despite ongoing expenses affecting its financial performance.

MicroStrategy Strengthens Bitcoin Lead

Metaplanet Inc. is actively adopting a financial strategy similar to MicroStrategy’s by making significant Bitcoin investments. Inspired by MicroStrategy’s success, the company aims to use Bitcoin as a treasury reserve asset and a tool to enhance shareholder value.

Meanwhile, MicroStrategy recently solidified its position as the leading corporate Bitcoin holder by acquiring 27,200 more BTC. With this latest purchase, the company’s total Bitcoin holdings have risen to approximately 279,420 BTC, bought at a cumulative cost of $11.9b.