On Thursday, Japanese listed company Metaplanet announced that its board of directors has resolved to issue 2 billion yen (approximately 13.3 million USD) in ordinary bonds to purchase more Bitcoin.
Metaplanet’s most recent Bitcoin purchase occurred two days ago, with an increase of 135 BTC at an average purchase price of approximately 95,785 USD. As of February 25, the company holds a total of 2,235 Bitcoins, with an average acquisition price of around 82,988 USD.
In April 2024, Metaplanet will implement a strategic shift in its financial management strategy by adopting Bitcoin as a strategic reserve asset to hedge against Japan’s debt burden and the resulting fluctuations in the yen. In January of this year, Metaplanet CEO Simon Gerovich stated that the company aims to expand its Bitcoin holdings to 10,000 BTC by 2025.
On Monday, American software company Strategy (formerly MicroStrategy) announced the completion of a 2 billion USD issuance of convertible preferred notes and disclosed that it had purchased 20,356 Bitcoins between February 18 and February 23, at a cost of approximately 1.99 billion USD, with an average purchase price of approximately 97,514 USD.