Metaplanet Lifts Bitcoin Stash by 555 BTC, Plans to Sell Debt to Buy More
The Tokyo-based company earmarked the entire offering for EVO FUND only days after previously selling $25 million in bonds to the same buyer.
Japanese investment firm Metaplanet (3350) said it will sell a second $25 million of bonds to EVO FUND to fund further purchases of bitcoin (BTC).
The Tokyo-based company agreed to issue the debt only days after selling the same amount of bonds to the same buyer. The bonds, which will bear no interest, have a redemption date of Nov. 6, according to a Metaplanet post on X on Wednesday.
In a separate statement, Metaplanet said it bought 555 BTC for 7.63 billion yen ($53.5 million), taking its total holdings to 5,555. That is the largest bitcoin stash among public companies outside of North America, according to Bitcoin Treasuries.
Metaplanet shares added about 11.5% to close at 477 yen ($3.33) on Wednesday.
