Metaplanet is a Japanese company that has recently announced plans to borrow money to acquire more assets. Bitcoin—mirroring the model of American firm MicroStrategy, the top corporate BTC holder—despite recent pushback from shareholders.
The Company You can also read about the importance of this in our article The company announced on Friday it will issue bonds worth 5 billion yen (about $31.9 million) to purchase more cryptocurrency. On Tuesday the company issued another bond to fund their Bitcoin strategy.
The total amount raised for Bitcoin is now close to $61 Million.
*Metaplanet to issue 5.0 billion yen in Ordinary Bonds to Accelerate Bitcoin Purchases; Repayment to be made from Warrant Exercise Proceeds* pic.twitter.com/9Sr6a5kDkD
— Metaplanet Inc. (@Metaplanet_JP) December 20, 2024
The share price of an investment firm fell on Tuesday. TankedInvestors are more likely to be skeptical about Bitcoin strategies. Metaplanet had announced that the company was “officially a Bitcoin treasury company,” The world now recognises the existence of its “responsibility as a pioneer in the country’s Bitcoin ecosystem,”
Metaplanet stock currently trades at $23 after falling nearly 3% on Monday and more than 12% in the past week.
Metaplanet is a public company that trades on the Tokyo Stock Exchange. It follows in the footsteps MicroStrategy and has Bitcoin listed as a liability. In April, it bought bitcoins worth 1 billion yen.
Since then, it has been called Asia’s answer of MicroStrategy – the world’s largest Bitcoin holder. The software firm has become a cryptocurrency exchange. “Bitcoin treasury company” MicroStrategy holds over 41 billion dollars worth of BTC (423,650 BTC).
Bitcoin Useful for a number of people A new record high of $108,135, You can also read about it here CoinGecko is able to surge by double digits in just seven days. However, it has since plunged following a more hawkish-than-expected Wednesday speech from Federal Reserve Chairman Jerome Powell about future interest rates.
After dropping to as low as $92 245 on Friday morning New York Time, the coin currently trades for $96,846.
Edited By Andrew Hayward