Japanese investment firm Metaplanet Inc. issues $50 million in 0% ordinary bonds to fund its Bitcoin purchases, increasing its holdings to over 7,800 BTC, surpassing El Salvador.
The bond issuance resulted in a 15% surge in Metaplanet's stock price on the Tokyo Stock Exchange, highlighting investor confidence in the company's Bitcoin acquisition strategy.
Metaplanet is following a Bitcoin-first strategy akin to MicroStrategy, positioning itself as a major player in the crypto-finance industry with a focus on Bitcoin as a hedge against economic instability.
The firm's move towards Bitcoin as a primary treasury asset reflects a broader trend of companies embracing cryptocurrency to mitigate risks associated with traditional currencies and macroeconomic uncertainties.