As a seasoned investor with a keen eye for trends and a knack for spotting potential, I find the recent moves by MetaPlanet Inc. to be both intriguing and promising. Having navigated through various market cycles, I’ve learned that bold strategic decisions can often yield significant returns.
This week, Japanese investment firm MetaPlanet Inc. successfully raised approximately 9.5 billion yen (equivalent to around $60.6 million) by issuing two bonds. This fundraising will facilitate their quicker acquisition of Bitcoin. Listed on the Tokyo Stock Exchange, this company had previously declared its intention to hold Bitcoin as a significant reserve asset. Now, they’re moving more swiftly with their strategy, aiming to increase their investment in cryptocurrency.
On Friday, Metaplanet released a 5 billion yen (approximately $31.9 million USD) bond, adding to the 4.5 billion yen ($28.7 million USD) bond they issued earlier in the week. Both bonds will be due for repayment on June 16, 2025. Interestingly, neither of these bonds comes with an interest rate.
metaplanet has secured a loan of 50 billion yen through the fifth issuance of ordinary shares with warrants from EVO FUND and has reached a total fundraising amount of 95 billion yen related to the twelfth new share subscription rights. This capital will be used to bring forward the Bitcoin purchase, which was originally planned for 2025, and execute it this year. We will provide further details about the outcome of the Bitcoin purchase at a later date.
— Simon Gerovich (@gerovich) December 20, 2024
According to CEO Simon Gerovich’s statement on platform X, the decision has been made to accelerate Bitcoin buying activities that were initially scheduled for 2025 and carry them out in the present year instead.
Since May, when the company declared it would focus on Bitcoin in its financial plan, they’ve been on a shopping spree for Bitcoins. As of December 18th, Metaplanet owned about 1,142 Bitcoins, which equates to roughly $110.3 million at current market rates.
As a researcher, I noticed that even with the recent announcement, Metaplanet’s stock experienced a decrease of 4.24% on the Tokyo Stock Exchange last Friday, ending the day at approximately 3,610 yen. Contrasting this dip, it’s worth mentioning that the company’s stock has experienced an astounding rise of 2,023% since the beginning of the year. Furthermore, on Thursday, Metaplanet shares commenced trading in the U.S. OTCQX market, where they closed almost 10% lower on their inaugural trading day.
Even as Metaplanet accumulates more Bitcoin, MicroStrategy – a company based in the United States – maintains its status as the biggest publicly-traded corporation holding Bitcoin, with roughly 439,000 coins in its possession, as per Bitcoin Treasury’s statistics.
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2024-12-20 13:24