Metaplanet Follows MSTR's Lead, Announces $11.3M Debt Sale for Additional Bitcoin Purchases
Summary
Metaplanet, listed in Tokyo, is issuing one-year ordinary bonds worth 1.75 billion yen ($11.3 million) at an annual interest rate of 0.36% to increase its bitcoin holdings. The company began purchasing bitcoin in April as a hedge against Japan's debt issues and yen volatility, accumulating 1,018 BTC valued at $92.33 million. Metaplanet employs options strategies to enhance its bitcoin holdings, though its current balance is significantly smaller than MicroStrategy's 279,420 BTC.
