Metaplanet continues to expand its Bitcoin (BTC) holdings as the company recently announced that it has purchased an additional 1,005 BTC, bringing its total Bitcoin holdings to 13,350 BTC. This is an increase from the Japanese company’s target of 10,000 BTC for the entire year. The continuous acceleration of BTC purchases has helped Metaplanet rise to the 7th position in the list of businesses with the largest Bitcoin treasury, ranking above Tesla. Along with smart financial moves such as issuing bonds to optimize the balance sheet, Metaplanet demonstrates a solid strategic vision, reflecting its trust and experience in the cryptocurrency sector in a volatile market.
Metaplanet's Bitcoin Storage Strategy
Metaplanet has made several impressive BTC purchases in the first half of the year. The latest purchase of 1,005 BTC brings its total holdings to 13,350 BTC, far exceeding its target for the year. The company’s current average purchase price is around $96,121 per BTC, and this number is expected to increase if the purchases continue.
The acceleration of Bitcoin accumulation has put pressure on short sellers, with Citigroup Global, for example, having a short position in Metaplanet shares between $3 and $4 before the strong Bitcoin buying spree, indicating the Metaplanet leadership team’s deep confidence and expertise in Bitcoin’s growth potential.
Metaplanet's Position in the Cryptocurrency Financial Market
Metaplanet has now emerged as one of the world's largest Bitcoin treasury holdings, ranking 7th in the rankings of corporations with the largest amount of BTC.
Compared to Tesla, which has not made additional Bitcoin purchases for a long time, Metaplanet has shown more dynamism and determination in its digital asset accumulation strategy. This is also reflected in the stability and growth of MTPLF's stock price after the announcement of the new purchase.
Effective Bond Issuance and Debt Management at Metaplanet
In parallel with the Bitcoin purchase, Metaplanet has been prudent in its financial management, specifically issuing Series 19 bonds worth $21 million to restructure old debts. This bond has a maturity date of December 29, 2025 and has been fully purchased by Evo Fund - a reputable venture capital fund in Japan.
The issuance of zero-coupon, unsecured bonds in place of the previous secured bonds helps Metaplanet reduce financial pressure and improve liquidity. At the same time, Evo Fund supports Metaplanet through multiple stock options issuances, expanding its ability to raise capital to continue accumulating Bitcoin and develop long-term.
Evo Fund – Metaplanet's strategic financial partner
Evo Fund is a Tier 4 venture capital fund that specializes in asset management and has experience supporting Metaplanet in previous funding rounds. The fund operates mainly in Japan but its legal scope is not widely disclosed.
The fund, which had previously funded Metaplanet with approximately $12.1 million through its Series 3 bond, is now also playing a key role in the recapitalization through Series 19. Additionally, the 555 million shares held by Evo Fund are expected to provide Metaplanet with billions more in future cryptocurrency purchases.
Predicting the future and impact of Metaplanet on the Bitcoin market
Under the influence of its aggressive Bitcoin hoarding strategy, Metaplanet is expected to become the world's second-largest BTC holder with a treasury that could exceed 63,000 BTC by the end of the year. The stock's rally and the rise in Bitcoin could boost the company's market value.
The Bitcoin market has shown signs of recovery as BTC surged to $108,268, along with news of institutional Bitcoin purchases that promise to create a new price surge. This event solidifies Metaplanet’s position as a pioneer in the field of large-scale Bitcoin holdings.
Source: https://tintucbitcoin.com/metaplanet-mua-1-005-btc-phat-nonh-trai-phieu/
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