‘Japan’s MicroStrategy’ Metaplanet issues $11.3M Bond for Bitcoin

Metaplanet — a Tokyo-listed investment firm focused on accumulating as much Bitcoin (BTC) as possible — announced the issuance of 11.75 billion yen ($11.3 million) of one-year ordinary bonds to buy more Bitcoin.

Metaplanet’s board of directors decided to issue the bonds with an annual interest rate of 0.36%, according to a Monday announcement. The funds raised will be spent on more Bitcoin and the redemption date is set for Nov. 17 of next year.

Metaplanet chief executive officer Simon Gerovich highlighted in a recent X post that “more Bitcoin purchases” are coming for the company.

Metaplanet is often described by the press as Japan’s MicroStrategy due to its adoption of largely the same corporate strategy. Just like its United States-based brother, the Japanese investment firm is primarily looking to accumulate ever more capital with the sole purpose of buying more Bitcoin for its balance sheet.

In October, Metplanet acquired an additional ¥1 billion ($6.5 million) of Bitcoin. At the time this was equivalent to just under 109 BTC, bringing the company’s holdings to a total of 748.5 BTC at an average purchase price of 9,304,655 yen per Bitcoin — or just over $62,550.

Considering that Bitcoin is trading at nearly $90,800 at the time of writing, Metaplanet is up by over 45% on its investment. The firm’s 748.5 BTC is worth nearly $68 million at current market prices.

The recent updraft in crypto prices follows a Trump victory in the U.S. elections and comes as interest in the market is seeing a resurgence with the Crypto Fear & Greed Index, a multifactorial measure of crypto market sentiment, recently showing a score of 83, indicating that “extreme greed” has gripped the crypto market.

In most cases, such a score would suggest that the market may be slightly overvalued — but it is far from a guarantee that the market will soon start to fall. “When Investors are getting too greedy, that means the market is due for a correction,” the Crypto Fear & Greed Index website reads.

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