Metaplanet is raising another $21M through bonds to buy more Bitcoin
Summary
Metaplanet, a Japanese investment firm, is raising $21.25 million through a bond issue to expand its Bitcoin holdings. The funds will be used to purchase Bitcoin, with the firm able to acquire approximately 206 BTC at current prices. Metaplanet recently disclosed a $53.4 million purchase of 555 BTC, increasing its total holdings to 5,555 BTC, acquired for $481.5 million. The firm’s stock has surged over 1,600% in the past year. Additionally, Metaplanet plans to launch a US subsidiary, Metaplanet Treasury, aiming to raise $250 million for its Bitcoin strategy. Other companies, including Strive Asset Management and GameStop, are also adding Bitcoin to their balance sheets.
