Japanese version of MicroStrategy follows suit in issuing bonds! Metaplanet issues 1 billion Japanese yen corporate bonds to buy Bitcoin, with an annual interest rate of 0.5%.
Metaplanet, which claims to be the Japanese version of MicroStrategy, is issuing its second corporate bond, stating that the funds will be used to purchase Bitcoin, mirroring MicroStrategy's modus operandi.
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The company Metaplanet, which claims to be a Japanese version of MicroStrategy, has issued its second corporate bond, stating that the funds will be used to purchase Bitcoin, mirroring the operational strategy of MicroStrategy.
With the purchase of 1 billion Japanese yen in BTC, Metaplanet's Japanese stocks surged by nearly 90%! Sora Ventures takes the lead in creating "Asian MicroStrategy."
According to the document, Metaplanet's corporate bond issuance totals 1 billion Japanese yen, approximately 6.26 million US dollars, with each unit priced at 50 million Japanese yen or 310,000 US dollars, and an annual interest rate of 0.5%. Each 100 Japanese yen bond can be converted into an equivalent amount of Metaplanet's stock.
The issuance date of this corporate bond is June 24, 2024, with a redemption date of June 25, 2025, at which time all bonds will be redeemed in full.
This method of a publicly listed company purchasing Bitcoin and investors exiting through the company's stock can be considered an alternative way for institutions to enter and exit the Bitcoin market, echoing the thorough implementation by the US-listed company MicroStrategy.
Metaplanet surged by nearly 12% today:
MicroStrategy forces the conversion of convertible bonds, saving nearly 7 million US dollars in interest.