Metaplanet Issues Zero-Interest Bond to Boost Bitcoin Holdings

Metaplanet, a Japanese financial services company, has announced a ¥4 billion bond issue to fund its Bitcoin treasury expansion. The bond, issued at a 0% interest rate, is the company's sixth unsecured corporate bond and will be used to immediately purchase Bitcoin, bypassing the typical waiting period for exercising stock acquisition rights.

The bond issue comes as Metaplanet's stock price reached an all-time high of ¥6,650, with weekly gains of 36% and monthly gains of 81%. This strong performance has caught the attention of industry leaders, including Michael Saylor, Executive Chairman of MicroStrategy, who praised Metaplanet's commitment to its Bitcoin strategy.

Metaplanet's stock has shown remarkable growth, delivering one-year returns of 4,000% from its October 2024 price of under ¥1000. The company has emerged as a major player in Japanese financial markets, with its stock becoming the 19th most liquid on the Japanese exchange. Bitcoin strategist Dylan LeClair reported that Metaplanet recorded a trading volume of ¥42.6 billion (approximately $277 million) in recent trading.

CEO Simon Gerovich addressed the company's critics, particularly targeting Morgan Stanley's short position in Metaplanet stock. Gerovich pointed out that the investment bank maintains a short position of over 1 million shares, despite the company's strong performance.

The zero-interest bond issue is part of Metaplanet's broader strategy to expand its Bitcoin holdings. The company has announced plans to acquire 21,000 Bitcoins by the end of 2026, demonstrating its long-term commitment to cryptocurrency investment. This approach mirrors that of MicroStrategy, which continues to expand its Bitcoin holdings. MicroStrategy recently acquired 7,633 BTC for $742 million, bringing its total Bitcoin holdings to 478,740 BTC.

The current market environment shows Bitcoin trading at $96,226, with a market capitalization of $1.90 trillion. Daily trading volume has increased by 8.7% to $37 billion, while 24-hour liquidations have reached $43 million, with long liquidations accounting for more than $37 million.

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