Well, folks, hold onto your wallets! Metaplanet has just pulled a rabbit out of a hat and issued a whopping ¥2 billion (that’s $13.3 million for those who don’t speak yen) in zero-interest bonds! Why, you ask? To snag more Bitcoin, of course! 🐰💰
According to the company’s announcement (which I’m sure was delivered by a singing telegram), these bonds were given the green light on Mar. 12 and will mature on Sep. 11, 2025. That’s right, folks! They’re playing the long game here, like a tortoise in a race against a hare who’s too busy scrolling through TikTok! 🐢📱
Now, here’s the kicker: Metaplanet can pay these bonds back at face value if they can wrangle enough cash from their 14th to 17th Series of Stock Acquisition Rights. Sounds like a fancy way of saying, “We’ll pay you back if we feel like it!” And bondholders can ask for an early redemption, but only if they give a heads-up. No collateral or guarantees here, folks! It’s like a blind date with a guy named “Trust Me.” 😜
Since 2023, Metaplanet has been on a Bitcoin binge, like a kid in a candy store, but instead of gummy bears, they’re hoarding digital gold! Their strategy is reminiscent of Strategy (formerly MicroStrategy), which is basically the corporate equivalent of “Hey, look at me!” They’re taking advantage of Japan’s low borrowing costs to build their Bitcoin stash, positioning themselves as the big cheese in Asia’s corporate Bitcoin world. 🧀💻
As of their latest Bitcoin shopping spree on Mar. 5, Metaplanet is now the proud owner of 2,888 BTC! They’ve even outpaced the Chinese gaming firm Boyaa Interactive International, making them the largest corporate Bitcoin holder in Asia. Talk about a glow-up! 🌟
With a total investment of ¥36.44 billion ($242 million), their average BTC buying price is ¥12.62 million ($84,000) per BTC. They’re aiming for the stars, hoping to reach 21,000 BTC by 2026 and 10,000 BTC by the end of 2025. From Jan. 1
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2025-03-12 07:42