- The Tokyo-listed business raised 9.5 billion yen ($60.6 million) in two bond issuance tranches.
- The company plans to use the recently collected money to help pay for its bitcoin purchases.
In an effort to speed up bitcoin purchases, Japanese investment firm Metaplanet Inc. issued two tranches of bonds this week, raising 9.5 billion yen ($60.6 million).
The Tokyo-listed company reported today that, in addition to the 4.5 billion yen ($28.7) bond issuance announced on Tuesday, it has decided to issue a fifth ordinary bond worth 5 billion yen ($31.9 million). The maturity date of both interest-free bonds is June 16, 2025.
Purchases of Bitcoin that were initially scheduled for 2025 will be expedited into the current year by these funds.
After announcing in May that it will use bitcoin as a strategic treasury reserve asset, the corporation has been buying bitcoin in droves in recent months. As of December 18, it possessed more than $110.3 million, or 1,142.287 BTC, based on current market values.
Yahoo Finance reports that Metaplanet’s stock on the Tokyo Stock Exchange ended Friday’s trading session down 4.24% at 3,610 yen. So far this year, the stock price has increased by 2,023%. Today, the Nikkei 225 index decreased by 0.2%.
Additionally, on Thursday, the company’s shares began trading on the U.S. OTCQX market. On its maiden trading day in the United States, the shares ended the day down 9.96%.
According to data from BitcoinTreasuries, MicroStrategy continues to own the greatest amount of bitcoin among public corporations, with 439,000 BTC.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.