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Metaplanet Issues Zero-Interest Bonds to Expand Bitcoin Holdings
In a bold move, Japanese investment firm Metaplanet has announced the issuance of zero-interest bonds to expand its Bitcoin holdings. The company aims to raise $13.3 million from the offering and use the proceeds to increase its existing 3,350 BTC reserves.
As part of its long-term strategy, Metaplanet plans to acquire an additional 6,650 BTC by the end of 2025, bringing its total holdings to 10,000 BTC. This ambitious goal is not without precedence, as the company has successfully completed five Bitcoin purchases within the past month alone.
The bonds issued are unsecured and lack collateral, a move that could be seen as an attempt to hedge against market volatility. Despite this, Metaplanet reassured shareholders that they will be informed of any significant financial implications arising from the bond issuance.
Metaplanet’s decision to pursue zero-interest bonds may be seen as a sign of confidence in the future of Bitcoin. The company has taken this step despite the current bearish market trends, which have resulted in Bitcoin’s price declining by 1% over the past 24 hours and 4.7% throughout March.
Metaplanet’s stock price took a hit, falling by over 9%, as Japan’s Nikkei 225 dropped 4%. This downturn is attributed to growing concerns about economic uncertainties.
Source: https://cryptonewsland.com/metaplanet-issues-zero-interest-bonds-to-expand-bitcoin-holdings/
