Tokyo, Japan - Japanese investment firm Metaplanet Inc. has significantly boosted its bitcoin holdings with the successful issuance of two tranches of bonds this week, raising a total of 9.5 billion yen ($60.6 million).
The company announced today that it issued 5 billion yen ($31.9 million) as its fifth ordinary bond, following a previous issuance of 4.5 billion yen ($28.7 million) on Tuesday. Both bond issues, which mature on June 16, 2025, are zero-coupon bonds, meaning they do not carry interest.
Accelerating Bitcoin Accumulation
"These funds will accelerate Bitcoin purchases originally planned for 2025 into the current year," stated Simon Gerovich, CEO of Metaplanet, in a post on X. This move aligns with the company's strategy to adopt bitcoin as a strategic treasury reserve asset, a decision announced in May.
As of December 18th, Metaplanet held approximately 1,142.287 BTC, currently valued at around $110.3 million. This recent capital injection will undoubtedly fuel further bitcoin acquisitions, solidifying the company's position as a significant corporate holder of the cryptocurrency.
Market Reactions
Metaplanet's stock on the Tokyo Stock Exchange closed down 4.24% at 3,610 yen on Friday, according to Yahoo Finance. Despite this decline, the company's stock price has seen a remarkable 2,023% increase year-to-date. The Nikkei 225 index experienced a slight 0.2% dip today.
The company's shares also began trading on the U.S. OTCQX market on Thursday. However, its first trading day in the US market saw a more significant decline, with shares closing down 9.96%, according to Google Finance.
Market Remains Top Holder
Despite Metaplanet's aggressive bitcoin accumulation, MicroStrategy continues to hold the title of the largest public corporate bitcoin holder, with a substantial 439,000 BTC in its treasury.
December 2024, Cryptoniteuae