Metaplanet Raises $50 Million to Expand Bitcoin Holdings
- Metaplanet issued ¥8 billion (approximately $50 million) in zero-interest ordinary bonds.
- The bond issuance was fully subscribed by EVO Fund, a recurring investor in Metaplanet’s offerings.
- This marks Metaplanet’s 20th bond issuance, reinforcing its strategy of leveraging debt for Bitcoin purchases.
- As of now, Metaplanet holds a total of 40,177 BTC, making it the third-largest corporate Bitcoin treasury globally.
- Despite holding significant assets, the firm reported a net loss of $619 million for fiscal year due to unrealized markdowns on its Bitcoin stack.
Metaplanet’s aggressive accumulation strategy continues amid market volatility and geopolitical tensions affecting cryptocurrency prices. The firm has added over 5,000 BTC in just the first quarter of this year alone.
With its recent bond issuance and substantial holdings, Metaplanet remains a key player in the cryptocurrency space despite reporting significant losses.(Source)
