Japanese Metalplanet company to buy 21,000 Bitcoins with funds raised through bond issuance. Rapid purchase due to yen devaluation. Plans to acquire 10,000 Bitcoins by year-end.
The Japanese investment company Metalplanet announced on Wednesday that it intends to raise 116 billion yen (approximately $745.5 million) to purchase more Bitcoins. The company plans to issue 21 million shares of zero-interest bonds to fund the purchase. Due to the devaluation of the Japanese yen against the US dollar, Metalplanet has decided to expedite its Bitcoin buying process. In December last year, Metalplanet had acquired 619.7 Bitcoins. Currently, it is the twelfth largest public Bitcoin holder with around 1,761 Bitcoins. Metalplanet aims to buy 10,000 Bitcoins by the end of this year and 21,000 Bitcoins by the end of 2026.
