As a seasoned crypto investor with a keen interest in following the moves of publicly-traded companies in the space, I find Metaplanet Inc.’s latest Bitcoin acquisition to be an exciting development. Having closely monitored their strategic investments into digital assets, I am impressed by their commitment to expanding their Bitcoin holdings.
Metaplanet Inc., which is listed on the Tokyo Stock Exchange under the symbol 3350, revealed on July 1, 2024, that they had recently purchased more Bitcoin.
Metaplanet Inc., based in Tokyo, Japan, is a versatile corporation that operates in various sectors, predominantly technology and finance. The company is listed on the Tokyo Stock Exchange with the ticker symbol 3350. Renowned for its innovative approaches and investments, Metaplanet explores cutting-edge financial technologies such as cryptocurrencies.
In line with our earlier announcement on June 24, 2024, we are now disclosing that our company intends to invest 1 billion yen in Bitcoin as part of our strategic move into the digital asset market.
Metaplanet Inc. has begun the process of acquiring a company, with the first deal valued at approximately 200 million yen. Here’s a breakdown of the details:
- Number of Bitcoins Purchased: 20.195 Bitcoins
- Average Purchase Price: 9,903,441 yen per Bitcoin
- Total Amount Spent: 200 million yen
As a financial analyst, I can tell you that Metaplanet’s latest acquisition of Bitcoins is in alignment with the company’s broader strategy to expand its Bitcoin holdings. Currently, Metaplanet owns a total of 161.2677 Bitcoins, each acquired at an average price of around 10,231,438 yen. The total expenditure on these acquisitions amounts to approximately 1.65 billion yen.
On June 24, 2024, the Japanese corporation made an announcement that its Board of Directors had given approval for the sale of a second series of ordinary guaranteed bonds, totaling ¥1 billion. These bonds are designated for EVO FUND and will each be worth ¥50 million. The annual interest rate for these bonds is 0.5%. The proceeds from this bond issuance will be used to buy Bitcoin, with the payment due on June 26, 2024, and the redemption scheduled for June 25, 2025.
As a crypto investor, I would interpret this information as follows: The Representative Director and President of Metaplanet, Simon Gerovich, personally guarantees the principal, interest, and any other obligations of these bonds. This guarantee is backed by a contract that also secures a first-mortgage on Hotel Royal Oak Gotanda, which is owned by Wen Tokyo Inc., a subsidiary of Metaplanet. No external bond administrator will be involved in the issuance process due to specific regulatory requirements.
Metaplanet projects that the upcoming bond issue will have minimal influence on its total financial results for the year concluding in December 2024. Should any substantial effects emerge, the corporation will promptly disclose this information.
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2024-07-01 11:59