Japan-based hotel and investment company Metaplanet has secured an additional 150 Bitcoin $83,924 through a new bond issuance. This development raises the company’s total Bitcoin reserves to 3,200, with assets valued at approximately $260.4 million considering current market conditions.
Metaplanet’s Bitcoin Acquisition
The board has decided to issue a new series of bonds worth 2 billion yen to finance the additional Bitcoin purchases. These bonds, maturing on September 17, represent steps taken to secure the necessary funds. This strategic move reflects the company’s objective to strengthen its financial structure.
MicroStrategy’s narrative of raising debt to acquire BTC has attracted the interest of other public companies. Metaplanet is among them, allowing companies holding significant amounts of BTC in their balance sheets to engage in indirect cryptocurrency investment on traditional exchanges.
Future Goals and Market Performance
Having previously accumulated 2,300 Bitcoin at an average price of $83,107, Metaplanet aims to gather a total of 10,000 Bitcoin by the end of 2025 and 21,000 Bitcoin by the end of 2026. Despite a 33.17% decline in monthly stock performance, the company has shown a remarkable 1,915% increase over the past year.
Simon Gerovich from the company’s management stated that the new acquisition positions Metaplanet among the top 10 publicly traded Bitcoin holders globally.
Gerovich: “Being the largest public Bitcoin holder in Asia is a significant milestone.”
Additionally, Metaplanet plans to restructure its existing hotel in Tokyo and rename it “the Bitcoin Hotel.” This initiative is seen as part of the company’s strategic plans to expand its operations across different sectors and enhance its brand value.
The steps taken by Metaplanet can be considered significant developments in long-term growth and strategic diversification. The company’s new funding practices and goal-focused plans are closely monitored by market observers.