Japanese Version of MicroStrategy Imitates the Issuance of Corporate Bonds Metaplanet Issues 1 Billion Corporate Bonds to Purchase Bitcoin with an Annual Interest Rate of 05
Metaplanet, known as the Japanese version of MicroStrategy, has issued its second general corporate bond, stating that it will be used to purchase Bitcoin. This move is in line with the operational strategy of MicroStrategy.
According to the documents, Metaplanet has issued a total of 1 billion Japanese yen (approximately 6.26 million US dollars) in general corporate bonds, with each unit priced at 50 million Japanese yen (310,000 US dollars) and an annual interest rate of 0.5%. Each 100 yen bond can be exchanged for an equivalent amount of Metaplanet stocks.
The issuance date of these corporate bonds is June 24, 2024, and the redemption date is June 25, 2025, at which point they will be fully redeemed.
This approach of listed companies purchasing Bitcoin and investors exiting through the company’s stocks can be seen as an alternative institutional method of entering and exiting Bitcoin, similar to the thorough implementation practiced by the US listed company MicroStrategy.
Metaplanet has seen a nearly 12% increase in value today.
MicroStrategy recently saved nearly 7 million US dollars in interest by forcing the conversion of its convertible bonds.
Metaplanet, MicroStrategy, Japan.
For more information, please refer to the following articles:
– Breaking News: Japanese licensed exchange DMM hacked, losing 4,503 Bitcoins worth 48.2 billion Japanese yen.
– OpenAI sets up Asian office in Japan, and Cathie Wood’s Ark Invest announces its investment.
