Metaplanet, a Japanese company, has issued new zero-interest bonds as it aims to expand its bitcoin (BTC) holdings.
In a recent announcement to its shareholders, the firm revealed that it has launched 2 billion yen (approximately $13.4 million) in zero-interest ordinary bonds specifically for the purpose of purchasing BTC, with Evo Fund once again serving as the exclusive bondholder.
These bonds are interest-free and are set to be fully redeemed on September 17.
Issuing bonds like this is a common strategy for the publicly traded company as it seeks to bolster its bitcoin reserves, especially taking advantage of favorable pricing due to Bitcoin’s recent price corrections.
Just last week, the company disclosed that it acquired 162 BTC for $13.5 million, with an average price of $83,123 per bitcoin.
With its recent acquisitions, Metaplanet now possesses 3,200 BTC, valued at around $265 million, positioning it as the tenth-largest public entity in terms of BTC holdings, according to available data.