Metaplanet Inc., a Japanese company listed on the Tokyo Stock Exchange, is seriously upping its Bitcoin game. They just issued ¥4.5 billion (about $30 million) in zero-interest bonds to buy even more Bitcoin. This is their fourth bond offering for this purpose.
Funding the Bitcoin Frenzy
This latest bond sale, officially called “Metaplanet Inc. 4th Series Ordinary Bonds,” is all about fueling Metaplanet’s ambitious goal: becoming Asia’s biggest Bitcoin holder. The bonds mature on June 16th, 2025, and investors get their full investment back then – no interest, but a guaranteed return. The bonds are being sold in stages to allow for gradual Bitcoin purchases.
A Winning Strategy?
Metaplanet’s Bitcoin buying spree began in April 2024. They’ve already amassed 1,150 Bitcoins (worth roughly $122.67 million at the time of writing). Their strategy is similar to MicroStrategy’s – treating Bitcoin as a primary reserve asset and using extra cash to buy more. They cite Bitcoin’s scarcity and its independence from government control as key reasons for this strategy.
This latest bond offering is a clever move. By offering zero-interest bonds, they avoid short-term debt problems while still getting the funds they need. It’s also attractive to investors because they get their money back with no risk.
Market Reaction and Rewards
The market loved the news! Metaplanet’s stock price jumped 51% in just five days, boosting its market capitalization to over $1 billion. CEO Simon Gerovich is thrilled with the positive response.
To further sweeten the deal for shareholders, Metaplanet also launched a Bitcoin Rewards Program. Shareholders owning at least 100 shares by December 31, 2024, are entered into a lottery to win a share of a ¥30 million ($199,500) Bitcoin prize pool.
