{"id":32944,"date":"2024-06-24T12:18:04","date_gmt":"2024-06-24T12:18:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/metaplanet-to-issue-1-billion-yen-in-bonds-for-bitcoin-purchase\/"},"modified":"2024-06-24T12:18:04","modified_gmt":"2024-06-24T12:18:04","slug":"metaplanet-to-issue-1-billion-yen-in-bonds-for-bitcoin-purchase","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/metaplanet-to-issue-1-billion-yen-in-bonds-for-bitcoin-purchase\/","title":{"rendered":"Metaplanet to Issue 1 Billion Yen in Bonds for Bitcoin Purchase"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Tokyo-based investment and consulting firm Metaplanet announced plans to issue 1 billion yen ($6.26 million) worth of bonds to buy Bitcoin.<\/a> In a June 24 notice, the firm confirmed its board\u2019s approval for the move, specifying that the Bitcoin BTC tickers down $61,387 would be \u201cfor long-term holding.\u201d A separate notice stated the bonds would pay an annual rate of 0.5%.<\/p>\n

Bitcoin\u2019s Market Movements<\/h2>\n

Bitcoin recently hit a 40-day low, dropping 2.6% to $62,733 after nearly reaching $72,000 in early June, according to CoinGecko. If Metaplanet purchases 1 billion yen worth of Bitcoin today, they would acquire nearly 100 BTC, approximately 99.84 BTC.<\/p>\n

In reaction to ongoing economic hardship in Japan, Metaplanet initiated a \u201cBitcoin-first, Bitcoin-only approach\u201d by purchasing 117 BTC for the first time in mid-May. In June, Metaplanet disclosed its most recent holdings report, which showed an average purchase price of 10.28 million yen, or $65,365, per Bitcoin. This suggests that the company\u2019s present approach is unsustainable.<\/p>\n

Similarities have been made between Metaplanet and MicroStrategy due to its aggressive BTC purchase and subsequent stock spike. According to Bitbo, the U.S. software corporation has the biggest Bitcoin holdings of any publicly traded company, with 214,400 BTC valued at $13.4 billion.<\/p>\n

Metaplanet shares rose 11.5% on Monday, trading at 96 yen ($0.60). This continues the over 500% gain its stock price has seen this year, per Google Finance.<\/p>\n

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Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Tokyo-based investment and consulting firm Metaplanet announced plans to issue 1 billion yen ($6.26 million) worth of bonds to buy Bitcoin. In a June 24 notice, the firm confirmed its board\u2019s approval for the move, specifying that the Bitcoin BTC tickers down $61,387 would be \u201cfor […]<\/p>\n","protected":false},"author":35,"featured_media":32945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32944"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=32944"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/32945"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=32944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=32944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=32944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}