#MetaplanetBTCPurchase

Metaplanet Reaches 10,000 BTC Target Amid $210M Bond Issuance

Metaplanet is now aiming to acquire 210,000 BTC by 2027 equivalent to roughly 1% of Bitcoin’s total supply

Japanese investment firm Metaplanet announced on Monday that it had acquired 1,112 BTC for approximately $117.2 million, bringing its total holdings to 10,000 BTC and reaching the target it set for this year.

The announcement coincided with the board's approval of a $210 million bond issuance to EVO Fund, a Cayman Islands-based investment firm. 

The bonds, which carry no interest and mature in December, are part of the company’s 18th series of ordinary bond issuances.

Proceeds from the bond sale are scheduled to be allocated toward the purchase of Bitcoin, according to a regulatory filing. 

Metaplanet did not clarify whether the 1,112 BTC was acquired before or after the funds were received, though the timing suggests the two events are closely linked.

CEO Simon Gerovich said in a post that as of Sunday, “we hold 10,000 $BTC acquired for ~$947 million at ~$94,697 per bitcoin.” Bitcoin was trading at $105,831 on Monday, according to data from CoinGecko.