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Metaplanet Announces $11.3M Debt Sale for Additional Bitcoin Purchases

Twitter icon  •  Published 3 hours ago  •  Hassan Maishera

Tokyo-listed Metaplanet has announced a debt sale and will use the funds to purchase more bitcoins.

TL;DR

  • Metaplanet will issue one-year bonds and will use the funds to buy bitcoins.

  • The Tokyo-listed company currently holds over 1,000 BTC

Metaplanet to Issue Bonds to Finance BTC Purchase

Tokyo-listed Metaplanet has announced a debt sale and will use the funds to buy more bitcoins. According to the company on X, it will issue one-year ordinary bonds with a guarantee totaling 1.75 billion yen ($11.3 million) for an annual interest rate of 0.36%. 

Metaplanet currently holds 1,018 BTC worth $92.33 million and will use the funds raised from the debt sale to buy more bitcoins. 

The company is following in the footsteps of Michael Saylor’s MicroStrategy. However, Metaplanet’s bitcoin reserve is pale compared to MicroStrategy’s stash of 279,420 BTC. Bitcoin is trading at $91,746 per coin, up 1% in the last 24 hours.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.