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Japan’s MicroStrategy to Issue ¥4.5 Billion Bonds to Buy More Bitcoin
MicroStrategy, a Japanese financial leader, has announced its plan to issue ¥4.5 billion (approximately ¥1.75 billion or $12 million) worth of bonds to further accumulate more Bitcoin (BTC). This significant move comes as the company continues to reinforce its commitment to the largest cryptocurrency by market capitalization.
As reported by our sources, each bond will be priced at ¥43.75 million, equivalent to $283,031, and pay an interest rate of 0.36%. This substantial investment is a testament to MicroStrategy’s unwavering confidence in Bitcoin’s growth potential and its dedication to expanding its already impressive holdings.
It has been previously disclosed that Japan’s financial leader held almost ¥100 billion (approximately $100 million) worth of BTC at the time of this announcement, making it one of the largest holders of the digital asset. This latest development solidifies MicroStrategy’s position as a major player in the market and demonstrates its ability to weather any economic storms.
It is noteworthy that MicroStrategy has been actively accumulating Bitcoin over the past few years. In fact, on Monday, it added 15,350 more BTC to its inventory at an average price of ¥100,386 per coin. This brings the total number of units held by the company to a staggering 439,000.
As the company continues to demonstrate its dedication to the cryptocurrency market, it is likely that this new bond issuance will be met with enthusiasm from the community and potential investors alike.
Source: u.today
