Metaplanet’s stock has reached 4,270 JPY due to the company issuing 4.5 billion JPY in ordinary bonds to facilitate the purchase of additional Bitcoin.
Metaplanet, better known as Japan’s MicroStrategy, has raised an additional 4.5 billion Japanese Yen by issuing ordinary bonds to finance its expansion of Bitcoin purchases. The bonds were issued to EVO FUND and have a maturity date of June 16, 2025. They will not bear interest. In response to this development, the company’s stock price reached new all-time highs, surpassing $1 billion.
Metaplanet Issues 4.5 Billion JPY in Bonds for Bitcoin Purchases
Metaplanet, a Japanese technology company, announced on Tuesday that it would issue its 4th Series Ordinary Bonds to raise funds to acquire Bitcoin. MicroStrategy, a Japanese company, announced in its notice that it intends to issue bonds valued at 2.5 billion yen, with a total value of up to 4.5 billion yen.
Furthermore, the Japanese technology company announced its intention to issue additional ordinary bonds (private placement bonds) valued at up to 5 billion JPY to the bondholders in either a single tranche or multiple tranches. These future bond issuances’ interest rates, payment, and maturity dates are still uncertain.
Since May 2024, the Japanese company has been engaged in an aggressive Bitcoin acquisition campaign, drawing inspiration from MicroStrategy’s acquisition strategy. The organization has accumulated over 1,000 BTC on its balance sheet briefly.
The stock price has reached a new all-time high of over 4,000 JPY
The Metaplanet stock has experienced a recent surge in value, reaching a new all-time high of 4,270 JPY earlier today. The stock price has increased by 51% in the past five trading sessions, bringing its year-to-date gains to a staggering 2,450%. The company’s shareholders have experienced substantial profits as a result of the company’s Bitcoin acquisition strategy.
Simon Gerovich, CEO of Metaplanet, disclosed significant accomplishments when the company’s stock reached record levels. The stock reached an all-time high of ¥4,270 and registered a record trading volume of ¥27.8 billion (~$180 million). The company’s market capitalization surpassed $1 billion due to this noteworthy rally.
The positive aspect is that the Japanese company also distributes the benefits to its shareholders through its Bitcoin-focused shareholder program. The company has recently partnered with SBI VC Trade Co., Ltd., a subsidiary of SBI Holdings, Inc., to implement a shareholder program to provide shareholders with supplementary value through Bitcoin-linked rewards.