Metaplanet announced the issuance of ¥1.750 billion in corporate bonds on 11/18 for the purchase of Bitcoin.

Japanese company, Metaplanet, announced on November 18 that it has decided to issue the third regular corporate bond for the purpose of purchasing Bitcoin (BTC). The total issuance amount is 17.05 billion yen.

The corporate bond has an annual interest rate of 0.36% and a maturity date set for November 17, 2025. It is a one-year term bond held by its wholly-owned subsidiary, Wen Tokyo, with the land and buildings of Hotel Royal Oak Gotanda serving as collateral.

The issuance of bonds for the purpose of investing in cryptocurrencies follows the move of MicroStrategy, the largest Bitcoin-holding company. On October 31, the company announced a funding plan of 42 billion dollars (approximately 6.3 trillion yen at an exchange rate of 1 dollar to 150 yen) through stock and bond issuance over the next three years to purchase Bitcoin.

Related Article: MicroStrategy Announces Plan to Raise 42 Billion Dollars Over Three Years for Bitcoin Purchase

Currently, in terms of Bitcoin holdings, MicroStrategy holds 0.279420 BTC and Metaplanet holds 1018.170 BTC.

By: Naoki Tohyama