{"id":21575,"date":"2024-11-19T05:30:17","date_gmt":"2024-11-19T05:30:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21575"},"modified":"2024-11-19T05:30:17","modified_gmt":"2024-11-19T05:30:17","slug":"metaplanet-to-expand-bitcoin-holdings-with-11-3-million-bond-sale","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21575","title":{"rendered":"Metaplanet To Expand Bitcoin Holdings With $11.3 Million Bond Sale"},"content":{"rendered":"

In an announcement<\/a> today, Japanese firm Metaplanet revealed plans to increase its Bitcoin (BTC) holdings by issuing $11.3 million worth of bonds to fund the purchase.<\/p>\n

Metaplanet To Increase BTC Holdings Through Bond Issuance<\/h2>\n

The Tokyo-listed company announced on November 18 that its Board of Directors had approved a debt sale with a guarantee worth 1.75 billion yen, or approximately $11.5 million. The bonds will have a one-year maturity period, maturing on November 17, 2025, and will carry an interest rate of 0.36% per annum.<\/p>\n

The proceeds from the bond issuance will be used solely to purchase BTC. It\u2019s worth noting that Metaplanet already holds 1,018 BTC on its balance sheet.<\/p>\n

Often referred to as \u201cAsia\u2019s MicroStrategy,\u201d Metaplanet\u2019s latest BTC acquisition announcement comes just a week after the US-based business intelligence firm MicroStrategy purchased<\/a> 27,200 BTC, worth approximately $2.03 billion at current market prices.<\/p>\n

Metaplanet began acquiring BTC as a strategic treasury reserve asset in April. The company announced it was adopting a \u201cBitcoin-first, Bitcoin-only\u201d approach, mirroring MicroStrategy\u2019s BTC investment strategy.<\/p>\n

Since April, the early-stage investment firm has steadily expanded its Bitcoin portfolio. For instance, the company\u00a0acquired<\/a> an additional 20.195 BTC in June, worth roughly $1.2 million.\u00a0<\/p>\n

It\u00a0added<\/a> another 38.464 BTC in September, valued at approximately $2 million. Most recently, in October, the firm announced<\/a> it had purchased 156.78 BTC, bringing its total holdings to over 1,000 BTC.<\/p>\n

Despite the announcement of the bond issuance, Metaplanet\u2019s share price saw little movement. The firm\u2019s share closed the day with a modest 0.81% increase on Monday.<\/p>\n

However, since the company began its Bitcoin acquisition strategy, its stock has experienced explosive growth. On April 4, 2024, Metaplanet\u2019s shares traded at 190 yen ($1.23). Today, they trade at 1,994 yen ($12.86), reflecting gains of nearly 950% in just over seven months.<\/p>\n

Bitcoin Supply Scarcity To Further Propel Price?<\/h2>\n

With increasing retail, institutional, and even sovereign demand, Bitcoin\u2019s limited supply could lead to a supply shock, potentially driving the digital asset\u2019s price to unprecedented levels. As a reminder, BTC\u2019s total supply is capped at 21 million by design.<\/p>\n

According to a recent analysis<\/a> by a CryptoQuant analyst, BTC reserves on cryptocurrency trading platforms have fallen to a five-year low. The analyst also noted that more investors hold Bitcoin long-term as a hedge against rising inflation and currency debasement.<\/p>\n

Similarly, a recent report<\/a> suggests that BTC demand vastly exceeds its supply. This growing supply-demand imbalance may set the stage for Bitcoin\u2019s next major price breakout.\u00a0 BTC trades at $90,909 at press time, up 0.1% in the past 24 hours.<\/p>","protected":false},"excerpt":{"rendered":"

In an announcement today, Japanese firm Metaplanet revealed plans to increase its Bitcoin (BTC) holdings by issuing $11.3 million worth of bonds to fund the purchase. Metaplanet To Increase BTC Holdings Through Bond Issuance The Tokyo-listed company announced on November 18 that its Board of Directors had approved a debt sale with a guarantee worth […]<\/p>\n","protected":false},"author":0,"featured_media":21576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21575"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21575"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21576"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}