Metaplanet plans to raise $50 million through zero-interest bonds to accumulate more Bitcoin (BTC), with Cayman Islands-based investment firm Evo Fund being the sole bondholder.
Metaplanet has been aggressively acquiring Bitcoin, with recent acquisitions including 1,004 Bitcoins for $104.6 million, bringing its total holdings to 7,800 BTC.
Metaplanet has seen almost 20% profits on its Bitcoin investments, with its stocks being positively impacted as well, trading higher due to the perceived value of its Bitcoins.
MicroStrategy, another company actively acquiring Bitcoin, is aiming for a historic acquisition of $84 billion worth of Bitcoin purchases with a goal of 25% Bitcoin yield by 2025, amidst rising institutional interest and Bitcoin's price aiming for $120k.