Metaplanet, a Japanese public company, announced the issuance of $21.25 million in zero-coupon bonds to buy more Bitcoin as part of its aggressive accumulation strategy.
This is the third bond issuance by Metaplanet in a week, with each bond having a face value of $625,000 and maturing on November 7, 2025, with no interest rate.
The funds raised through these bonds will be used solely for purchasing Bitcoin, with the company holding 5,555 Bitcoin valued at approximately $570 million.
Metaplanet's strategy is being led by Simon Gerovich, aiming to strengthen its Bitcoin position through strategic debt offerings amidst growing institutional demand for Bitcoin.