Metaplanet is raising another $21M through bonds to buy more Bitcoin

Fresh disconnected its astir caller Bitcoin purchase, Japanese concern steadfast Metaplanet is raising much funds done different enslaved contented to grow its increasing crypto treasury.

Through a $21.25 cardinal contented of “0% Ordinary Bonds,” the steadfast said successful a May 9 connection that the “funds raised volition beryllium allocated to the acquisition of Bitcoin.”

Zero-coupon bonds don’t offer immoderate involvement to the holder. Most of the time, they are issued astatine a steep discount from their mean value, and erstwhile they mature, the holder receives the afloat value.

Following a committee of directors meeting, the steadfast said it volition contented a 14th Stock Acquisition Rights to EVO Fund, an concern absorption steadfast successful the Cayman Islands, with a redemption day of Nov. 7.

Source: Metaplanet

At existent prices, Metaplanet could bargain 206 Bitcoin (BTC) if it raises the afloat $21.25 million, according to CoinGecko. The steadfast archetypal flagged plans to bargain Bitcoin past April. 

BitcoinTreasuries.NET shows Metaplanet is Asia’s largest nationalist firm holder of Bitcoin and ranks 11th globally.

Metaplanet’s banal (3350T) has changeable up implicit 1,600% successful the past twelvemonth and is trading for 511 Japanese yen ($3.50), according to Google Finance.

Metaplanet shares person changeable up importantly successful the past year. Source: Google Finance

Metaplanet conscionable keeps buying Bitcoin 

On May 7, the Tokyo-listed steadfast disclosed that it spent $53.4 cardinal acquiring 555 Bitcoin at an mean terms of $96,134. The institution present holds 5,555 BTC, purchased for $481.5 cardinal astatine an mean terms of $86,672. 

Metaplanet besides announced connected May 7 the issuance of different $25 cardinal successful zero-coupon mean bonds to money much Bitcoin buys

On May 1, Metaplanet said it would motorboat a wholly owned US subsidiary, Metaplanet Treasury, based successful Florida. It plans to rise $250 cardinal to further its Bitcoin strategy and pat the US superior markets.

Related: How overmuch Bitcoin tin Berkshire Hathaway buy?

Meanwhile, a increasing fig of companies person decided to adhd Bitcoin to their equilibrium sheets, pursuing successful the steps of Michael Saylor’s company, Strategy, formerly MicroStrategy.  

Strive Asset Management announced on May 7 that it volition modulation into a Bitcoin treasury company. Meanwhile, video crippled retailer GameStop Corporation (GME) finished a convertible indebtedness offering on April 1 that raised $1.5 billion, with immoderate proceeds earmarked for buying Bitcoin. 

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