Metaplanet Launches $21.25M Bond Sale to Fund More Bitcoin Buys
The post Metaplanet Launches $21.25M Bond Sale to Fund More Bitcoin Buys appeared on BitcoinEthereumNews.com.
Metaplanet launches a $21.25M bond to boost Bitcoin holdings. The company becomes Asia’s largest public Bitcoin holder with 5,555 BTC. Zero-interest bonds offer flexible early redemption for the EVO Fund. In a strategic effort to expand its cryptocurrency portfolio, Japanese investment company Metaplanet has announced the launch of a $21.25 million bond sale. In a statement issued on May 9, the firm declared that it is going to utilize all the money to buy more Bitcoin. The fund would be generated from this bond issuance. This action reflects Metaplanet’s belief in the digital asset. Metaplanet Ranks 11th Globally in Corporate Bitcoin Holdings In its particularity, the bonds in question at hand are “0% Ordinary Bonds.” Unlike regular bonds, they do not pay interest to the investors. Rather, they are usually sold at a discount and re-infused at par maturity. This strategy enables the company to secure financing with no pressure of future interest payments. Further, the bond agreement has a provision whereby the bondholder can have the bond redeemed before its maturity date, provided they notify the firm in advance. On May 9, Metaplanet’s board of directors held a meeting. They decided to issue the bonds to EVO Fund, a Cayman Islands-based investment firm. The bonds are anticipated to run until November 7, 2025. However, the agreement provides for flexibility as a mechanism that allows early repayment. … This is not long after the Metaplanet’s latest Bitcoin acquisition on May 7. In this purchase, firm bought the 555 Bitcoins at an average value of $96,134. The sum of money paid for that purchase was $54.4 million. Consequently, the company now has 5,555 Bitcoins. All together, these coins were purchased within the price tag of about $481,500, making the average purchase price $86,672 per coin. Therefore, Metaplanet has become the biggest…
