Japan-listed firm Metaplanet has issued ¥1.75 billion ($11.3 million) in one-year bonds to increase its Bitcoin holdings, emulating MicroStrategy's Bitcoin-centric financial strategy.
The funds, raised at a 0.36% coupon rate, are earmarked for further BTC acquisitions, underscoring the company’s commitment to leveraging the ongoing crypto bull market.
Since May 2024, Metaplanet has acquired over 1,000 BTC through direct purchases and strategic options trading, achieving an impressive 155% yield on its Bitcoin holdings in the last quarter. Following the bond announcement, the company’s stock price surged above 2,000 JPY, reflecting heightened investor enthusiasm, though resistance levels tempered sustained growth. At current BTC prices of $91,954, the new bonds could enable the purchase of approximately 122 additional Bitcoins, further solidifying Metaplanet’s position as a corporate Bitcoin whale.
I think https://t.co/meaZhpFNq9 needs even more green dots. pic.twitter.com/Rs5hgrnbAm
Meanwhile, MicroStrategy remains a pivotal influence in this trend. Executive Chairman Michael Saylor hinted at additional BTC purchases, fueling speculation about another substantial acquisition. Last week, MicroStrategy added 27,200 BTC worth $2 billion, pushing its total Bitcoin holdings to 279,420 BTC. Saylor has also advocated for a U.S. strategic Bitcoin reserve, suggesting it could reduce national debt by $16 trillion.
The growing acceptance of Bitcoin as a corporate asset continues to gain traction, with political endorsements adding momentum. Robert F. Kennedy Jr., voicing support for Bitcoin adoption, recently described it as the "currency of freedom." Analysts now speculate that a daily BTC close above $91,900 could pave the way for a rally to $100,000, marking a historic milestone in cryptocurrency markets.
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