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Japanese public-traded company Metaplanet, which follows MicroStrategy’s playbook on Bitcoin, spread the word about its plans to raise more than a hundred billion Japanese yen to buy a new Bitcoin batch.
Japanese “MicroStrategy” gears up for huge BTC buy
Metaplanet intends to issue 21 million new share subscription rights with a discount rate of 0% in order to attract 116 billion JPY (which translates into roughly $745 million) to continue buying the world’s primary cryptocurrency, Bitcoin. The company stated that this would be one of the largest Bitcoin purchases in the history of Asian markets.
The news was spread throughout the crypto community by Chinese crypto journalist and blogger Colin Wu.
As reported by U.Today, in December 2024, Metaplanet issued its fourth series of ordinary bonds with a goal of raising 4.5 billion yen, equaling $30 million. The proceeds were used directly for expanding the company’s Bitcoin stash.
Related
MicroStrategy continues Bitcoin buying spree
As reported by U.Today, on Monday, Michael Saylor’s MicroStrategy Bitcoin-focused giant announced the purchase of a whopping $1.1 billion worth of Bitcoin. That was the 12th consecutive weekly BTC purchase conducted by this company.
A week ago, MicroStrategy made a similar $1.1 billion Bitcoin purchase. The Bitcoin-focused giant now holds 471,107 BTC valued roughly at $47 billion at the current BTC/USD prices.
Four days ago, Saylor’s company announced its intent to redeem more than $1 billion of debt offering. These convertible notes are due to expire in 2027, however, MicroStrategy intends to redeem them this year, paying out more than one billion U.S. dollars to holders and thus partly repaying its BTC debt.
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