tl;dr
Japanese public company Metaplanet has announced a two billion yen ($13 million) debt offering to Evo Fund for zero-coupon bonds, with the raised money intended for purchasing more Bitcoin. Under the terms of the offering, Evo Fund can demand full repayment of the bond before maturity. Metaplanet, p...
Japanese public company Metaplanet has announced a two billion yen ($13 million) debt offering to Evo Fund for zero-coupon bonds, with the raised money intended for purchasing more Bitcoin. Under the terms of the offering, Evo Fund can demand full repayment of the bond before maturity.
Metaplanet, previously known as a budget hotel operator, has become a major corporate holder of Bitcoin, with holdings approaching $1 billion. The company's stock saw significant gains in 2024, rising by 4,000%, and it also reported a 44% growth in hotel business operating profits. Additionally, the company announced the purchase of 162 BTC and CEO Simon Gerovich expressed concern about running out of time to buy Bitcoin.
Metaplanet has announced another debt offering to Evo Fund of two billion yen ($13 million). These are zero-coupon bonds, which means that they do not pay interest. The money raised with the help of this debt offering will be used to purchase more Bitcoin. Under the terms of the offering, Evo Fund will be able to demand a full repayment of the bond before maturity.
Metaplanet, the obscure company that used to be known as a budget hotel operator, has now emerged as one of the top corporate holders of the leading cryptocurrency. Its Bitcoin holdings are now approaching the $1 billion mark. The company's stock experienced tremendous gains last year, soaring by a staggering 4,000%. Last month, Metaplanet announced that its hotel business operating profits also grew by 44% in 2024, while also revealing plans for Tokyo's Hotel Royal Oak Gotanda into "The Bitcoin Hotel."
Earlier today, the company announced an additional purchase of 162 BTC. Metaplanet CEO Simon Gerovich recently stated that he was "nervous" about not having enough time to purchase Bitcoin. "Most people, I think, are a little bit lazy, they are short-term focused. They wanna buy something that can immediately go up 100X, which is why everyone is looking for the next shiny coin. What's the next Bitcoin? There's no next Bitcoin...Every time I think about Bitcoin, I get really nervous that we’re running out of time," he said during an appearance on the Coin Stories Podcast with Natalie Brunell.