- Metaplanet expands Bitcoin holdings to 2,391 BTC, gaining $21.3M despite a 20% stock drop amid market volatility.
- The firm explores NYSE and Nasdaq listings to enhance global investor access while securing strategic bond funding.
- Metaplanet joins Bitdeer in buying the dip, reinforcing Bitcoin’s role as a corporate asset amid rising institutional adoption.
Metaplanet has strengthened its Bitcoin strategy by acquiring 156 BTC for $13.4 million at $85,590 per Bitcoin. This purchase has increased its total holdings to 2,391 BTC, valued at approximately $196.3 million. The company’s Bitcoin yield has surged to 31.8% year-to-date.
Additionally, Metaplanet has received invitations from the New York Stock Exchange (NYSE) and Nasdaq to explore potential listings. CEO Simon Gerovich stated that the company is assessing ways to enhance global investor accessibility.
Metaplanet’s Bitcoin Investment and Market Impact
The recent Bitcoin acquisition positions Metaplanet as a key player in corporate Bitcoin adoption. Besides, the company follows in the footsteps of major firms integrating Bitcoin into their balance sheets.
Metaplanet’s aggressive Bitcoin purchases come amid growing institutional adoption. Significantly, the company is up by $21.3 million on its Bitcoin strategy. However, its stock price dropped nearly 20% to 4,010 JPY, aligning with the broader crypto market downturn.
Moreover, Metaplanet became the second publicly traded company to announce a Bitcoin dip purchase. Bitdeer Technologies also increased its holdings, further solidifying Bitcoin’s status as a corporate asset.
Regulatory Filings and Bond Issuance Strategy
Metaplanet disclosed details of its 7th Series of Ordinary Bonds in a regulatory filing dated February 27. These bonds, issued to EVO FUND, carry no interest and are redeemable at face value on August 26.
Bondholders can request early redemption at JPY 100 per JPY 100 of face value with a one-day prior notice. Furthermore, the redemption funds will come from the 13th to 17th Series of Stock Acquisition Rights proceeds. If these exercises generate at least 50 million JPY, Metaplanet may redeem a portion of the bonds earlier.
Notably, the bonds do not bear collateral or guarantees. The entire issuance will be allocated to EVO FUND. Additionally, Metaplanet and bondholders may mutually agree on an early redemption date.
Bitcoin is currently trading at $92,619.24, up 7.60% in the last 24 hours. This surge reflects heightened market interest. However, Metaplanet’s stock decline suggests cautious investor sentiment amid Bitcoin’s volatile movements.
