MetaplanetIt is a publicly listed Japanese company. He bought another 500 million yen. The company secured a 1 billion yen loan last week to purchase bitcoin.
Latest Update: 🇯🇵 Japanese public company Metaplanet raises another JPY 500 million #Bitcoin pic.twitter.com/utiXEwsymM
— Bitcoin Magazine (@BitcoinMagazine) August 20, 2024
Metaplanet purchased 57,273 bitcoins at an average price of 8.73 million yen per bitcoin, bringing its total holdings to 360,368 bitcoins and its acquisition value to 3.45 billion yen ($25.6 million).
Metaplanet first announced plans to raise 10.08 billion yen through a public offering to purchase Bitcoin on August 6. A week later, 1 billion yen was secured The company has taken out loans to buy bitcoin and has bought more than 100 bitcoins so far.
The Japanese company is aggressively expanding its Bitcoin reserves by borrowing capital at low interest rates. MicroStrategyThe company has sold debt and equity since 2020 and has amassed assets worth more than 226,500 bitcoin.
Other bitcoin buyers who have recently raised funds include Marathon Digital Holdings. $300 million in convertible notes Buy Bitcoin. Semler Scientific It also issued stocks and bonds to buy bitcoin.
Metaplanet’s series of loans and stock offerings to fund its bitcoin purchases highlight how public companies are using the market to pile up sats, treating them as a treasury reserve asset as bitcoin becomes more mainstream.
Disclaimer: Bitcoin Magazine is owned by BTC Inc., which also owns UTXO Managementis a regulatory capital allocator focused on the digital asset industry and has invested in Metaplanet. UTXO invests in various Bitcoin ventures and holds significant amounts of digital assets.
