Japanese company Metaplanet announced the issuance of ordinary bonds worth $15 million, the proceeds of which will be directed towards the acquisition of bitcoin (BTC).
This decision reflects the company's intention to strengthen its accumulation strategy, despite the recent drop in bitcoin's price from its multi-month high of $105,000.
Metaplanet's $15 million bet on bitcoin
According to the official disclosure, the bonds have a 0% interest rate and are to be redeemed on November 12. Their value is $375,000. The latest bond issuance by Metaplanet aims to bring its assets closer to a goal of 10,000 bitcoins by the end of 2025.
If the company raises the full $15 million, it would be able to acquire approximately 147 bitcoins at current prices. This move follows yesterday's acquisition of 1,241 bitcoins, worth $126.7 million, increasing total holdings to 6,796 bitcoins.
This strategy aligns with a broader trend in 2025: the shift of bitcoin ownership from individual investors to institutions and governments. According to River, businesses are now the leading buyers of bitcoin, even outpacing governments and exchange-traded funds (ETFs). Strategy—formerly known as MicroStrategy—continues to lead this trend. The company reported on May 12 that it acquired 13,390 bitcoins for $1.34 billion. The tokens were purchased at an average price of $99,856 per token.
This addition increased Strategy's total bitcoin holdings to 568,840 bitcoins, acquired at an average cost of $69,287 per token.
However, not everyone considers this plan sustainable. Economist and bitcoin critic Peter Schiff took to X to warn of potential consequences.
"Your next purchase will likely raise your average cost above $70,000," Schiff wrote.
He emphasized that if the price of bitcoin falls again, it could drop below the average purchase price of Strategy. Since Strategy borrowed money to finance these acquisitions, a price drop could become problematic.
If the company is forced to sell its assets to repay debt, the losses will become 'real' rather than theoretical. This heightens the risk of using leverage on bitcoin, especially when the market is volatile.
This warning comes against the backdrop of the recent drop in bitcoin's price. On May 12, the price rose to highs last seen on January 31 after the U.S. and China agreed on a 90-day tariff deal. However, after hitting a peak of $105,705, bitcoin fell. It quickly lost 3.7% of its gains, trading at $101,725 at the time of publication. Despite this, analysts remain optimistic that the current rally still has growth potential and could push bitcoin to historical highs.#BinanceSquare #Write2Earn #Binance #metaplanet #TradeStories $ETH
