CandleFocus Metaplanet Follows MSTR's Lead, Announces $11.3M Debt Sale for Additional Bitcoin Purchases
2024-11-18
Author: Content Editor
Tokyo-listed company Metaplanet plans to issue one-year bonds in order to finance the purchase of more Bitcoin (BTC). The company currently holds over 1,000 BTC and aims to boost its holdings following the example of MicroStrategy, a US business intelligence firm. Metaplanet will issue bonds with a guarantee of 1.75 billion yen ($11.3 million) at an annual interest rate of 0.36%. The funds raised will be used solely to acquire more Bitcoin. Metaplanet began buying BTC in April as a hedge against Japan's debt issues and currency volatility. However, its current Bitcoin holdings are significantly lower than MicroStrategy's 279,420 BTC.
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