Hold onto your hats, crypto enthusiasts! Metaplanet Inc. is shaking things up with a jaw-dropping ¥5 billion ($31.9 million) bond issuance, and guess what? It's all about turbocharging their Bitcoin buying spree! In a thrilling twist, the company aims to fast-track its BTC purchases initially scheduled for 2025, squeezing them into 2024, thanks to a nifty move involving their 12th series stock acquisition rights.
Picture this: the bonds come in bite-sized ¥250 million units, with zero interest – yes, you heard that right, zilch! – and they'll be redeemable at face value by June 16, 2025. Metaplanet is pulling out all the stops, as they team up with EVO FUND, a private investment powerhouse, to make this happen. And there’s a little twist: the bonds can be redeemed early if EVO FUND gives the nod or if stock acquisition rights hit a certain mark.
This isn't Metaplanet's first rodeo. Just a few days ago, they rolled out another ¥4.5 billion bond plan, also maturing next June. Talk about a power move! In no time, they’ve racked up a staggering ¥9.5 billion, or a cool $60.6 million.
Their strategy? Dive deep into Bitcoin as a safety net against economic turbulence. Earlier in June, they bagged 23.351 BTC for $1.6 million, then went on a shopping spree, snapping up 42.4 BTC for $2.4 million. Fast forward to October, and their BTC stash has swelled to 203.7 BTC, with purchases of 57.273 BTC for $3.4 million and 106.976 BTC worth $6.6 million. They even made a splashy buy of 156.7 BTC, valued at $10.4 million, in the same month.
But wait, there's more! Metaplanet is not just buying; they're launching a brand-new Bitcoin treasury operations division. This wing will handle everything from buying and holding to managing cryptocurrency through financial wizardry involving loans, equity, and convertible bonds.
As of December 20, 2024, Metaplanet holds a whopping 1,142 BTC, valued at a dazzling $109.6 million. And if you think that’s impressive, their stock is on a wild ride too, trading at ¥3,575 – that's a 58.05% leap in just a month and a staggering 2,134.38% rise this year. Keep your eyes on this space, because Metaplanet is not just riding the Bitcoin wave – they're making a splash!
