Japanese hotel management firm Metaplanet issued a total of $25 million in bonds to buy more BTC. This update comes as the company announced that it has a total of 5000 bitcoins in its holdings, as reported by CoinDesk.
According to the company’s notice on the 2nd of May, Metaplanet has chosen to issue a 12th series of ordinary bonds to the EVO fund. These funds will be allocated towards the purchase of Bitcoin. The bonds will have no interest and can be redeemed earlier if bondholders opt to do so. If not, the bonds will be redeemable at par value on the 31st of October.
The company also reserves the right to redeem these bonds if the cumulative proceeds from exercising these bonds go above a certain threshold.
Metaplanet is the 10th largest corporate holder of Bitcoin in the world and the largest corporate holder of Bitcoin in Japan.
Source: Yahoo Finance
Metaplanet currently trades at 428 yen per share at the time of reporting. The price is up 22.99% on a year-to-date basis.