Metaplanet, known as the Japanese version of MicroStrategy, has announced the issuance of its second corporate bond, which will be used to purchase Bitcoin. This move is in line with MicroStrategy’s strategy.
According to the documents, Metaplanet has issued a total of 1 billion Japanese yen (approximately 6.26 million US dollars) in corporate bonds, with each bond priced at 50 million Japanese yen (310,000 US dollars) and an annual interest rate of 0.5%. Each bond of 100 Japanese yen can be converted into an equivalent amount of Metaplanet stock.
The issuance date of these corporate bonds is June 24, 2024, and the redemption date is June 25, 2025, at which point they will be fully redeemed.
This method of purchasing Bitcoin by a publicly traded company and allowing investors to exit through the company’s stock can be seen as an alternative institutional approach, similar to MicroStrategy’s practice in the US.
Metaplanet’s stock has risen nearly 12% today.
MicroStrategy recently saved nearly 7 million US dollars in interest by converting its convertible bonds.
Metaplanet, MicroStrategy, and Japan.
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