Japanese company Metaplanet has issued new bonds worth 2 billion yen (equivalent to $13.35 million) to increase its Bitcoin reserves. The purpose of this issuance is to buy more Bitcoins. This move is the latest in a series of Bitcoin purchases by the company since May 2024. Metaplanet has purchased Bitcoin 17 times from May 2024 to date. Its largest purchase was on December 20, 2024, adding 619.7 Bitcoins to its reserves. So far, Metaplanet has accumulated 2,235 Bitcoins valued at approximately $192.4 million. Despite operating since 1999, Metaplanet’s stock prices have been declining since 2013. However, since starting Bitcoin purchases, its stock prices have seen a significant increase. At the peak of the stock price growth, Metaplanet announced plans to acquire 10,000 Bitcoins by the end of 2025 and increase it to 21,000 Bitcoins by the end of 2026. Metaplanet’s strategy has led many to compare it with Strategy, a leading American company in Bitcoin purchases led by Michael Saylor. Metaplanet’s bold move in accumulating Bitcoins has not only revived the company’s stocks but also demonstrated high confidence in the future of this digital currency as a store of value. All eyes are now on this Japanese company to see if it can achieve its ambitious goal or not.
