Metaplanet Inc. to Issue $6M in Bonds for Bitcoin Acquisitions, Boosting Crypto Holdings
ByAinvest
Tuesday, Jun 25, 2024 7:38 am ET1min read
Metaplanet Inc. aims to boost its Bitcoin holdings by issuing 1 billion yen ($6.26 million) in bonds. The Tokyo-based investment firm aims to adhere to a "Bitcoin-first, Bitcoin-only" strategy amid Japanese economic challenges. The move has already increased Metaplanet's stock value by over 500% this year, with the announcement causing a surge in share prices. The Bitcoin acquisition is set to occur by June 2025, with funds raised from bonds specifically designated for Bitcoin purchases.
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