Metaplanet is raising another $21M through bonds to buy more Bitcoin

Metaplanet only just spent $53.4 million acquiring 555 Bitcoin at an average price of $96,134 on May 7, bringing its total stash to 5,555. Fresh off its most recent Bitcoin purchase, Japanese investment firm Metaplanet is raising more funds through another bond issue to expand its growing crypto treasury. Through a $21.25 million issue of “0% Ordinary Bonds,” all the “funds raised will be allocated to the purchase of Bitcoin,” the firm said in a May 9 statement. Zero-coupon bonds don’t offer any interest to the holder. Most of the time, they are issued at a steep discount from their normal value, and when they mature, the holder receives the full value. Read more