Japan’s Metaplanet has issued more zero-interest bonds, using some of the proceeds to buy 150 BTC worth around $12.5 million.
In a notice to shareholders, the Tokyo-based company said it issued 2 billion yen ($13.4 million) of the bonds to buy the bitcoin, with Evo fund once again acting as the sole bondholder. The bonds will be redeemed in full on Sept. 17.
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These bond issuances are a regular occurrence for the listed company as Metaplanet continues to build its bitcoin reserves, taking advantage of cheaper pricing brought by BTC’s recent price correction. The largest cryptocurrency is trading around $83,300, about 24% below the record high reached in January.
Last week, the company said it bought 162 BTC for $13.5 million at an average price of $83,123 per bitcoin.
Metaplanet now holds 3,200 BTC, worth $265 million, which makes it the 10th-largest BTC-holding public entity, according to bitcointreasuries.net.
UPDATE (March 18, 09:15 UTC): Updates first paragraph to reflect the company’s latest BTC buy.