Metaplanet, Japan's MicroStrategy, Announces Plans to Buy More Bitcoin (BTC)

Metaplanet has announced a shareholder benefits program. According to the company, the program will offer exclusive perks and other added value offerings to shareholders.

Japanese Bitcoin (BTC) treasury company Metaplanet has announced plans to buy more of the flagship cryptocurrency with the proceeds from a new bond offering.

On Nov. 18, the Tokyo Stock Exchange-listed firm announced that it was looking to raise ¥1.75 billion to buy BTC.

Metaplanet to buy more BTC with bond proceedsMetaplanet has issued one-year 0.36% bonds at ¥1.75 billion, which is roughly $11.7 million at current exchange rates. The company will use the proceeds to purchase more BTC, the company said in a statement.

Currently, Metaplant holds over 1,000 BTC in its treasury. The company, which is often referred to as “Japan’s MicroStrategy,” has been aggressively accumulating BTC since last year.

Metaplanet is a holding company that was established in 2018. The company’s main business is the acquisition, holding, and sale of crypto assets. Metaplanet is listed on the Tokyo Stock Exchange Mothers market.

In October, Metaplant announced that it had adopted “BTC Yield” as a key performance indicator (KPI). This move was inspired by the strategy of MicroStrategy, which has been buying and holding BTC since 2020.

MicroStrategy, a capital allocation company and leading proponent of BTC, has announced plans to raise $42 billion in capital over the next two-to-three years to buy more Bitcoin.

Earlier this month, MicroStrategy CEO Michael Saylor revealed that the US-based firm had acquired an additional 27,200 BTC for over $2 billion.

Since the company started buying the scarce asset, it has hoarded 279,420 bitcoins purchased for over $11.9 billion. Over the past year, MicroStrategy’s treasury operations have seen holders get 26.4% in BTC Yield — representing 157.5 BTC in daily accumulation.

“As a capital allocator, we believe that we have achieved the stated goal of generating a high rate of return on capital without the operational costs or capital investments typically associated with bitcoin mining,” Saylor said recently.

Metaplanet launches shareholder benefits programMetaplanet has also announced a shareholder benefits program, which will offer exclusive perks and other added value offerings to shareholders, the company said in a statement.

The company is teaming up with VC Trade, Hotel Royal Oak Gotanda, The Bitcoin Conference, Bitcoin Magazine, and Webull Securities on this initiative.