As a seasoned researcher with a penchant for blockchain technology and finance, I find myself intrigued by the latest moves of Metaplanet and MicroStrategy. Having closely followed the crypto market since its early days, it’s fascinating to witness traditional firms like these delving deep into Bitcoin acquisitions.
Metaplanet, a publicly traded Japanese company, recently issued more one-year bonds and plans to use the funds to buy additional Bitcoins. Since May 2024, this firm has been emulating MicroStrategy’s strategy and has been actively acquiring Bitcoins. On Monday, its stock price climbed above 2,000 JPY levels again.
Metaplanet Issues $11 Million Bonds to Buy More Bitcoins
As a researcher, I am reporting that Metaplanet has chosen to release one-billion-yen ($11.3 million USD) worth of one-year bonds, according to the announcement made by Japan’s MicroStrategy on November 18th. The bonds will carry a coupon rate of 0.36%.
The company stated that the money earned from this offering will be used to boost its Bitcoin investments in their financial records. Consequently, shares of Metaplanet shot up above the significant barrier of 2,000 JPY. Yet, it didn’t hold up for long after encountering robust resistance.
Over the last several months, the company has been steadily increasing its Bitcoin ownership, now surpassing 1,000 Bitcoins. In addition to this acquisition, the company’s strategic approach includes engaging in Bitcoin options trading as well.
With the recent bond sale, it intends to increase its Bitcoin holdings even more. Currently priced at $90,000 per Bitcoin, this means an additional 122 Bitcoins will be added to its reserves. Furthermore, Metaplanet saw a BTC return of 155% on its Bitcoin acquisitions during the last quarter.
MicroStrategy’s Michael Saylor Hinted At More BTC Purchases
As a researcher, in my latest exploration, I’ve come across an intriguing development on the X platform. Michael Saylor, MicroStrategy’s Executive Chairman, subtly suggested further Bitcoin acquisitions in a recent post. Delving deeper into this matter, it was disclosed last Monday that the company has indeed augmented its Bitcoin portfolio by an additional 27,200 BTC, valued at approximately $2 billion. This latest purchase adds to MicroStrategy’s already substantial Bitcoin holdings, which now stand at a staggering 279,420 BTC.
I think needs even more green dots.
— Michael Saylor (@saylor) November 17, 2024
According to Saylor’s hint, Dylan Leclair, in charge of Bitcoin acquisitions at Metaplanet, suggested an estimate: “It looks like around 25,000 more dollars worth of Bitcoin might be announced for MSTR before the market opens on Monday.
Michael Saylor has been advocating for establishing a strategic Bitcoin reserve in the U.S., suggesting it could potentially eliminate $16 trillion from the national debt. As the interest in Bitcoin grows among US policymakers during the Trump administration, there’s an increasing likelihood that corporations will begin holding Bitcoin as part of their reserves. In a bullish endorsement for the digital currency, Robert F. Kennedy Jr. declared, “Bitcoin embodies freedom,” showing his backing for Howard Lutnik as Treasury Secretary.
Currently, Bitcoin’s price stands at an increase of 1.32%, or approximately $91,954. If it manages to close above $91,900, some analysts predict that this could initiate a Bitcoin price surge towards $100,000.
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2024-11-18 12:09