Metaplanet Plans a Further $21M Bond Sale to Buy More BTC

Japanese hotel firm Metaplanet (3350) said it plans to sell another $21.25 million worth of bonds to fund further bitcoin ( BTC ) purchases. The Tokyo-based firm agreed to issue the debt to EVO FUND on May 9, making it the third such sale in the space of a week, following two issues of $25 million each . The bonds will not bear any interest and have a redemption date of Nov. 9, Metaplanet announced in a post on X on Friday . The firm’s bitcoin stash currently sits at 5,555 BTC ($576 million), the 11th largest holding among publicly-traded companies and the largest of firms outside North America. Metaplanet shares closed 2.75% higher on Friday at 524 yen ($3.61), outperforming the Nikkei 225 which gained 1.56%. Read More: Strike CEO Mallers to Lead Bitcoin Investment Company Backed by Tether, Softbank, Brandon Lutnick

Source: CoinDesk