Metaplanet Eyes $6.2M Bitcoin Purchase with Bond Proceeds

• Metaplanet has revealed plans to acquire more Bitcoin.
• This comes after the company adopted BTC as a strategic reserve asset in its treasury.
• The company currently holds 141.07 BTC.

Tokyo-based Metaplanet Inc. announced Monday its intention to acquire additional Bitcoin worth millions of dollars.

Metaplanet is an early-stage investment firm on a mission to lead the Japanese corporate world toward crypto adoption. Today’s development comes after the company adopted Bitcoin as a “strategic treasury reserve asset” on May 13.

Metaplanet Plans Bitcoin Acquisition

In a notice issued on June 24, Metaplanet said that its Board of Directors has resolved to purchase Bitcoin worth 1 billion yen (about $6.2 million).

“The funds for this purchase will be allocated from the capital raised through the issuance of the second series of ordinary bonds (with guarantees), as disclosed separately today in the "Announcement on the Issuance of the Second Series of Ordinary Bonds (with Guarantees)",” the notice read.

According to a separate announcement , the bond will be issued to EVO FUND at an annual interest rate of 0.5% and will mature on June 25, 2025. Bond payments will be made the following day, on June 26.

Metaplanet’s latest move follows another Bitcoin purchase by the company on June 11, totaling about 250 million yen. Following the purchase, which cost 10.7 million yen per BTC, Metaplanet announced that its total Bitcoin holdings stood at 141.07 BTC.

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Per Bitcointreasuries.net data , Metaplanet’s Bitcoin balance sheet has been updated thrice this year, meaning the company has acquired Bitcoin multiple times. In addition to the June 11 purchase, the company made other BTC purchases on April 23 and May 10, when Bitcoin traded at $66,518 and $62,125, respectively.

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