Metaplanet, a publicly traded Japanese firm, has declared its plan to issue 1.75 billion yen in unsecured corporate bonds. With a competitive annual interest rate of 0.36% and a maturity period of one year, the proceeds will be dedicated to acquiring Bitcoin. This investment approach has significantly bolstered Metaplanet’s market presence, evidenced by a remarkable 1,017% surge in its stock price year-to-date, positioning it as the top-performing Japanese stock of 2024.
As a result of its strategic Bitcoin holdings, Metaplanet has ascended to the status of the second-largest corporate Bitcoin holder in Asia, following Baidu Interactive. Currently, the company possesses 1,018.17 BTC, purchased at an average price of $61,800 per Bitcoin, yielding an impressive floating profit exceeding $6 million at prevailing market rates.
Source: https://en.coinotag.com/breakingnews/metaplanet-secures-1-75-billion-yen-to-boost-bitcoin-holdings-surging-to-second-largest-corporate-holder-in-asia/