You know how in every office there’s that one guy who always goes big or goes home? Well, Japan’s Metaplanet is that guy in the Bitcoin game, and they’re not playing around.
This firm just pulled a move straight out of the Michael Saylor playbook, issuing zero-interest bonds worth $21 million to fuel their Bitcoin stash.
Like borrowing from your buddy without having to pay him back extra. Sweet deal, right?
Masterplan
On May 29, Metaplanet announced this bond issuance to EVO FUND, a Cayman Islands-based investor. What’s the angle?
They want to pile up Bitcoin like there’s no tomorrow. Their target? 10,000 BTC by the end of 2025.
To put that in perspective, they’re already sitting on about 7,800 BTC, valued close to $840 million.
That makes them the 11th largest corporate Bitcoin holder worldwide. Not bad for a company that only jumped into the crypto pool last year!
These bonds are like a short-term IOU with no interest, due by November 28. EVO FUND can cash out early if they want, but Metaplanet also has the option to redeem bonds based on how much more money they raise.
No collateral, no bond administrator, just pure trust and some serious ambition, managed right from their Tokyo office.
It’s like the manager handling the petty cash, but on a multi-million-dollar scale.
Not a competition, yet…
And get this, Metaplanet’s rapid Bitcoin accumulation has already pushed them past El Salvador’s holdings, which are valued around $642 million.
El Salvador started buying Bitcoin back in 2021, but Metaplanet? They jumped in just last year and are already leaving them in the dust.
That’s pretty impressive and maybe a little intimidating.
LFG!
This brave, one might say crazy strategy has earned Metaplanet the nickname Asia’s MicroStrategy, nodding to Michael Saylor’s famous Bitcoin playbook.
They’re accumulating coins and they’re staking a claim in the corporate Bitcoin race, making it clear they’re here to stay. And they’re here for win.
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