You Won’t Believe What This Japanese Company Is Planning With Bitcoin! 😱

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Picture this: a Japanese company, Metaplanet, channeling its inner MicroStrategy, has decided it’s going to raise more yen than you’ve ever seen and go on a Bitcoin shopping spree. Yep, you heard that right. In the grand tradition of audacious financial maneuvers, Metaplanet plans to rustle up more than 100 billion Japanese yen (that’s about $745 million for those playing along at home) to bulk up on Bitcoin.

The Great Bitcoin Bonanza: Metaplanet’s Master Plan

In what can only be described as a bold move, Metaplanet is issuing 21 million new share subscription rights with a “too good to be true” discount rate of 0%. Why? To gather up a cool 116 billion JPY and jump headfirst into the Bitcoin pool. This isn’t just pocket change; this is one of the largest Bitcoin purchases ever attempted in Asia. Imagine trying to fit all that digital gold into your virtual wallet! 🤑

The crypto community didn’t miss a beat, thanks to the always-on-the-case Chinese crypto journalist and blogger, Colin Wu. Seriously, does this guy ever sleep?

Metaplanet, a Japanese listed company that imitates MicroStrategy, announced that it will issue 21 million new share subscription rights with a discount rate of 0% to raise about 116 billion yen (about 745 million US dollars) for further purchase of Bitcoin. This will become one…

— Wu Blockchain (@WuBlockchain) January 28, 2025

Rewind to December 2024 when Metaplanet was already knee-deep in yen, issuing its fourth series of ordinary bonds to collect 4.5 billion yen (a modest $30 million) just to pad its Bitcoin collection. You have to admire their single-minded dedication to Bitcoin hoarding. 🏦

Meanwhile, Over at MicroStrategy…

Not to be outdone, Michael Saylor’s MicroStrategy announced, with theatrical flair, the acquisition of $1.1 billion in Bitcoin just this past Monday. That’s their 12th weekly shakeup of the crypto world. Clearly, they can’t stop, won’t stop.

A week earlier, they did the exact same thing with another $1.1 billion Bitcoin pick-me-up. As it stands, MicroStrategy now has 471,107 BTC, an amount of digital currency likely to cause fainting spells among mere mortals, worth about $47 billion. 😲

And just to keep things interesting, four days ago, MicroStrategy decided it would redeem over a billion dollars in debt before it even expires. They’ve effectively said, “Hey, 2027, let’s move things along,” planning to pay back holders this year and chip away at their BTC-financed debt. Because, why not?

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2025-01-28 17:33