Japan’s Metaplanet Wants to Buy Another $6M Bitcoin

Japan-based investment advisor Metaplanet plans to boost its bitcoin (BTC) holdings by another $6 million worth of the token, as per a Monday statement. The firm already has $9 million worth of bitcoin. “Metaplanet Inc. (3350:JP) hereby announces that the Board of Directors has resolved to purchase Bitcoin worth 1 billion yen as of today's meeting,” it said. The funds for the purchase are sought from an upcoming bond issuance on Wednesday. These have an annual interest rate of 0.5% and will mature on June 25, 2025. Metaplanet started purchasing bitcoin in April to reduce yen exposure and offer Japanese investors crypto access with a preferential tax structure.

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