A Japanese company, Metaplanet, has unveiled plans to issue another set of one-year bonds to fund its continued Bitcoin acquisitions.
The move, reminiscent of MicroStrategy’s aggressive Bitcoin strategy, has been part of Metaplanet’s efforts to expand its cryptocurrency reserves since May 2024. Following this announcement, the firm’s stock briefly climbed above the 2,000 JPY mark on Monday before facing resistance.
The latest bond issuance amounts to ¥1.75 billion (approximately $11.3 million) with a 0.36% annual coupon rate. Proceeds will be allocated to increasing the company’s Bitcoin holdings, which already exceed 1,000 BTC.
This strategic approach also includes leveraging Bitcoin options to optimize their portfolio, a tactic that contributed to an impressive 155% yield on their Bitcoin investments in the last quarter.
With Bitcoin prices hovering near $90,000, Metaplanet is set to add around 122 more BTC to its reserves through this initiative. This ongoing expansion reflects the firm’s belief in Bitcoin as a valuable asset and its commitment to integrating cryptocurrency into its broader financial strategy.
Connecticut has officially distanced itself from government adoption of digital assets like Bitcoin. On June 30, Governor Ned Lamont signed House Bill 7082 into law, placing sweeping restrictions on how the state and its agencies can engage with cryptocurrencies.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.