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Date: 2025-02-27 09:44:34
Metaplanet, an investment firm based in Japan, has released $13.6 million worth of 0% interest bonds to finance the acquisition of more Bitcoin.
Metaplanet, a company listed on the Tokyo stock exchange, is providing 2 billion JPY (about $13.6 million) in bonds to EVO FUND. The objective of these funds is to buy additional Bitcoin (BTC) as part of the firm's continuous plan to expand its digital assets portfolio.
In a regulatory filing on Feb. 27, Metaplanet stated that the bonds do not bear any interest and will be redeemed at their face value on Aug. 26. However, EVO FUND, the bondholder, has the choice to demand early redemption at any time. This early redemption can be requested for all or a portion of the outstanding bonds, provided the request is made at least one business day beforehand, as per the document.
The funds necessary for the redemption of the bonds will come from the proceeds of the 13th to 17th Series of Stock Acquisition Rights, which Metaplanet anticipates exercising. If the funds from these exercises amount to a multiple of 50 million JPY, a portion of the bonds may be redeemed earlier than planned.
The bond issuance will be completely allocated to EVO FUND, with no guarantee or collateral attached to the bonds, according to the document. Despite the announcement, Metaplanet's shares have dropped nearly 25% as cryptocurrency prices experience a week-long decline.
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This announcement comes just two days after Metaplanet added 135 BTC to its treasury, solidifying its position as one of Japan's most active corporate Bitcoin investors.
Following a similar strategy to Strategy, formerly MicroStrategy, which owns the largest corporate Bitcoin treasuries, Metaplanet has been gradually increasing its holdings since initiating its Bitcoin Treasury Operations. As reported earlier by crypto.news, the firm's BTC Yield, which measures the amount of Bitcoin held per share, increased by 309.8% in Q4 2024. However, it has slowed down to 23.2% in early 2025 as Metaplanet increased the number of its shares.
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