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Metaplanet Inc. is set to issue ¥5 billion ($31.9 million) in ordinary bonds to expedite its Bitcoin acquisitions, moving purchases originally planned for 2025 to 2024. The bonds, carrying no interest and redeemable at face value, will be allocated to EVO FUND and are scheduled for issuance on December 20, 2024, maturing on June 16, 2025. The company has recently raised a total of ¥9.5 billion ($60.6 million) through bond issuances, further solidifying its Bitcoin-centered strategy, which includes a new treasury operations division focused on managing cryptocurrency investments.
Metaplanet, a Japanese Bitcoin-focused investment firm, will begin trading on the US OTCQX Market under the ticker MTPLF on December 19, following a remarkable 2,200% stock growth this year. CEO Simon Gerovich emphasized the importance of this expansion for attracting global investors and enhancing confidence in the company's innovative Bitcoin Treasury Strategy. The firm plans to bolster its Bitcoin holdings while hedging against currency fluctuations and diversifying revenue through various financial instruments.
Metaplanet's stock plummeted 13.73% after the company announced its new Bitcoin Treasury Operations, despite Bitcoin reaching an all-time high above $108,000. The Tokyo-based firm plans to increase its Bitcoin holdings and projects a 240% revenue increase for the fiscal year, aiming for a consolidated operating profit for the first time since FY2017. Currently, Metaplanet holds 1,142.287 BTC, valued at $119 million, positioning it as one of Japan's largest corporate Bitcoin holders.
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