Metaplanet, the so-called financial genius, has raised a mere 4 billion Japanese yen (about $26.1 million) for its grand plan to buy more Bitcoin. Yes, you heard it right: Bitcoin, that magical digital gold that’s been on everyone’s radar since, well, ever. This whopping sum is gathered through the ever-charming, completely harmless method of zero-interest, unsecured, and unguaranteed bonds. Fancy, isn’t it?
For the uninitiated, a bond is like lending your money to a government or a company and getting back your principal with interest at a later date. But not here! Oh no. Metaplanet doesn’t even need to pay interest. So, what’s the catch? None, apparently, as long as they’re in cahoots with EVO Fund, the investment manager behind this curious maneuver.
Now, hold your breath because Metaplanet has grand plans: they aim to acquire a jaw-dropping 10,000 Bitcoins by Q4 2025, which will cost them a little over $957 million at today’s price. If that wasn’t enough, the Japanese firm wants to crank that number up to 21,000 BTC by the end of 2026, which would be worth a mere $2 billion. Is this aggressive enough for you? And to top it off, they currently own a modest 1,762 BTC. Where do they find the time for all this buying? 📈
As for the fine print, Metaplanet is also making a small financial adjustment. The yen they plan to use to purchase their beloved Bitcoin is being reduced slightly—from 111.3 billion yen ($723 million) to 107.3 billion yen ($701 million). Less is more, or so they say. Who needs $723 million anyway? 😂
Now, why this sudden pivot to Bitcoin? According to Metaplanet’s oh-so-dramatic announcement, Japan’s economic situation is downright grim. With its “high debt levels,” “real negative interest rates,” and a currency that just won’t stop depreciating, the company feels Bitcoin is the shiny, glittering knight in digital armor ready to fight off inflation and economic despair.
Speaking of meteoric rises, Metaplanet’s stock has exploded by 5,250% in just one year. Yes, 5,250%. It’s the kind of number that would make your calculator weep. With a 500% surge in shareholders (50,000 new investors, or “entities”—because who counts anymore?), their market cap has ballooned by a ridiculous 11,800%. Feeling inspired yet? 😏
And it’s not just Metaplanet. Other companies, states, and nations have caught the Bitcoin fever. Some, like Michael Saylor’s rebranded Strategy (formerly MicroStrategy) and Semler Scientific, have watched their stock prices soar after diving headfirst into the Bitcoin pool. The United States isn’t far behind—at least 16 states, including Texas, Kentucky, and Missouri, are considering jumping on the Bitcoin bandwagon. Even the federal government might create a digital asset reserve, and the Czechoslovakian Central Bank is flirting with the idea of adding Bitcoin to its portfolio. Hold on tight, the world’s going crypto!
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2025-02-13 22:54