Japan stock exchange-listed firm Metaplanet has issued another round of one-year bonds and will purchase more Bitcoins through these proceeds. The Japanese firm has been following the footsteps of MicroStrategy and has been on a Bitcoin acquisition spree since May 2024. The company’s stock price surged past 2,000 JPY levels again on Monday.
Metaplanet Issues $11 Million Bonds to Buy More Bitcoins
Metaplanet decides to issue ¥1.75 billion ($11.3 million) in one-year bonds with a 0.36% coupon rate, as per an official announcement by Japan’s MicroStrategy on November 18.
The company added that the funds raised with this issuance will go towards increasing its Bitcoin holdings on the balance sheet. As a result, the Metaplanet stock surged past the crucial resistance of 2,000 JPY. However, it couldn’t sustain much beyond that after facing strong resistance.
Amid its continuous purchases over the past few months, the company has taken its Bitcoin holdings to more than 1,000 BTC. Part
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