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Metaplanet, an investment firm based in Japan, has made a Bitcoin purchase worth 42.4 Bitcoin for ¥400 million to add to its holdings.its strategic acquisition of Bitcoin. This move aims to improve its long-term financial strategy by holding the cryptocurrency as a “strategic treasury reserve asset.” Notably, the latest purchase brings Metaplanet’s total Bitcoin holdings to over 203 BTC.to invest in Bitcoin stems from ongoing economic pressures within Japan.
To finance its Bitcoin acquisitions, Metaplanet recently issued the second series of ordinary bonds via EVO FUND, raising over $6.2 million. These bonds, carrying an annual interest rate of 0.5%, are set to mature on June 25, 2025. Notably, although the bonds lack collateral, Metaplanet has secured them with a first-priority mortgage on the land and building of Hotel Royal Oak Gotanda, owned by its subsidiary Wen Tokyo Inc.After the Tokyo Stock Exchange closed on Monday, July 1, Metaplanet announced its acquisition of an additional 20.195 BTC for 200 yen .
The growing attraction to Bitcoin reflects increased mainstream acceptance amid fluctuating crypto market sentiments, including potential asset liquidations from Mt. Gox and regulatory changes in Germany.One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.
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