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Metaplanet Inc. announced it had successfully raised 4 billion Japanese yen (approximately $26.1 million) through the issuance of zero-interest, unsecured bonds. The capital will be used to purchase additional Bitcoin, aligning with the company's ambitious acquisition strategy.
The bonds, notable for their lack of interest and guarantees, were backed by investment manager EVO Fund.
The Japanese firm has set a goal to acquire 10,000 Bitcoin by the fourth quarter of 2025, an investment that would require roughly $957 million based on current prices.
Furthermore, Metaplanet aims to expand its Bitcoin holdings to 21,000 units by the end of 2026, valued at approximately $2 billion at present rates. This plan indicates that Metaplanet intends to make significant Bitcoin purchases in the near future. As of January 28, the company's Bitcoin holdings stood at approximately 1,762 BTC.
As part of its financial strategy, Metaplanet has adjusted the amount of yen allocated for Bitcoin purchases from 111.3 billion yen ($723 million) to 107.3 billion yen ($701 million). The company cited Japan's economic difficulties, including high debt levels, prolonged real negative interest rates, and ongoing yen depreciation, as reasons for pivoting towards Bitcoin accumulation.
Metaplanet's stock price has experienced a meteoric rise of 5,250% over the past year. The company has also seen a 500% increase in its shareholder base, with 50,000 new investors. The market capitalization of Metaplanet has soared by 11,800% during the same period.
According to CoinTelegraph, the trend of incorporating Bitcoin into company treasuries is growing, with entities looking to the cryptocurrency as a hedge against inflation and currency debasement. Other firms, such as Strategy and Semler Scientific (NASDAQ:SMLR), have witnessed stock price increases after beginning to invest in Bitcoin.
In the United States, at least 16 states are contemplating Bitcoin investments, with the federal government considering the creation of a digital asset reserve that may feature Bitcoin. Similarly, the Czechoslovakia Central Bank is exploring the option of adding Bitcoin to its reserves.
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