Japanese public company Metaplanet has announced the issuance of a new series of bonds that are worth ¥1.75 billion (roughly $12 million).
Each bond offered by Metaplanet is priced at ¥43.75 million (roughly $283,031). It pays an interest rate of 0.36%.
The latest series of bonds is set to mature on Nov. 17, 2025.
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The Japanese company has adopted MicroStrategy's playbook by borrowing money at a low interest rate in order to fund more Bitcoin purchases.
Metaplanet is the only Japanese entry on the list of the leading corporate Bitcoin holders.
It is now seemingly on track to surpass Canaan, one of the largest manufacturers of Bitcoin mining machines.
According to the recent data, Metaplanet currently holds $92.20 million worth of Bitcoin.
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Meanwhile, MicroStrategy co-founder Michael Saylor is determined to continue buying Bitcoin despite the fact that the business intelligence firm already owns $25.3 billion in the largest cryptocurrency.
However, some believe that the current debt-for-Bitcoin strategy might be unsustainable, with BitMEX Research recently warning that MicroStrategy could be pushed to sell its holdings by shareholders when its shares start trading at a discount.
Despite the risks associated with this strategy, it has seemingly become the blueprint for other companies that pivot to Bitcoin investing.
As reported by U.Today, medical tech firm Selmer Scientific recently announced that it intended to offer more debt in order to finance future Bitcoin purchases.
Still, corporate Bitcoin adoption appears to be only in its early innings, with very few non-crypto companies jumping on the bandwagon.
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