Metaplanet issues new bonds to buy Bitcoin, now 78% to the goal of 2025

Metaplanet announced on Thursday that it would sell bonds to buy more Bitcoin, which would continue his plan to build one of the world’s largest business Bitcoin companies.

The Japanese company has issued the bonds on EVO Fund, a Cayman Islands -based investment firm.

If it contributes to sufficient money in future fundraising, the company can “repay a corresponding multiple of bonds on USD 1 per USD 1 of the nominal value”, Metaplanet Notification of issue Reads for $ 21 million in zero-interest bonds.

By issuing bonds, metaplanet can borrow money, which it must fully repay, usually on the due date, in this case about six months later on November 28. This is comparable to obtaining a loan, but these bonds do not produce interest, which means that Metaplanet receives the money without added costs until the term until the due date

The bond deal includes flexible repayment conditions. EVO Fund can reclaim its money early, provided that the investor receives at least five days of cancellation period and offers an exit option if necessary.

Creative financing for Bitcoin

Metaplanet has demonstrated consistency and creativity when collecting money, specifically for Bitcoin purchases. His approach reflects which strategy, Used to be known As a micro strategy, the pioneer in the use of business financing tools to collect Bitcoin, rather than trusting traditional investments.

This year, the company has collected capital by several bonds: the ear scoops of $ 25.9 million in February$ 13.3 million in recent times MarchAnd $ 25 million earlier this month.

The newest issue is the 17th in a series and just follows another notification a day beforeFor a separate amount of $ 50 million.

The newest bond sales brings the company closer to the goal to possess 10,000 BTC by the end of 2025, with a total debt that has now been collected this year at around $ 135.2 million.

The company acquired another 696 BTC at the end of March to one combination From exercised cash benefit put options and premiums by selling those options.

The same month coincided with the appointment From the son of President Trump, Eric, from the strategic advisory board of Metaplanet.

Closed a week before April, metaplanet bought 145 BTC for $ 13.6 million, making it halfway to End of target.

Data from Bitcoin Treasuries are currently showing the company in possession About 7,800 Bitcoin, accounting for around 78% of his goal.

The record holdings from Metaplanet are worth around $ 840 million at current prices, purchased at an average cost of $ 91,340 per bitcoin. It is now in 11th place of the largest Companies that hold Bitcoin.

Earlier this month, the company announced plans to determine An American subsidiaryreferring prospects to “expanding access to liquidity for institutional investors.”

Edited by Sebastian Sinclair