Metaplanet’s Daring $50 Million Bond Adventure: BTC or Bust!

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In a move that could only be described as audacious, Metaplanet has decided to issue its largest collection of 0% ordinary bonds to the venture capitalists at EVO FUND. Yes, you heard it right, a whopping $50 million worth of bonds! 💰

As per the latest announcement, the Japanese investment firm has taken a bold step by launching the 16th series of these ordinary bonds. With a combined total value of $50 million, this is the largest bond issuance from the Tokyo-based company to date. One can only imagine the celebratory sake flowing in the boardroom! 🍶

True to form, the company has declared that it will use these funds to purchase more Bitcoin (BTC). As of May 19, they hold a staggering 7,800 BTC, which brings their total Bitcoin investments to a jaw-dropping $846.9 million, assuming the market doesn’t throw a tantrum. 📈

Simon Gerovich, the chief executive of Metaplanet, has grand ambitions, aiming to amass 10,000 BTC by the end of 2025. After their latest shopping spree of 1,004 BTC on May 19, they’ve reached a commendable 78% of that target. It seems they are well on their way to becoming one of Asia’s largest corporate Bitcoin hoarders. Who knew digital coins could be so fashionable? 🪙

Now, let’s talk about the bonds themselves. They carry no interest—yes, you read that correctly—and can be redeemed in full on November 27 at a face value of $1.25 million per bond. However, EVO FUND has the delightful option to redeem these bonds early, provided they send a written notice to Metaplanet at least five business days in advance. Because who doesn’t love a little paperwork? 📜

Early redemption can be made for all or part of the outstanding bonds. Should Metaplanet decide to hold another fundraising initiative involving EVO FUND, the amount of U.S. dollars paid could change, depending on how well the fundraising goes. It’s like a game of financial musical chairs! 🎶

If the funds raised on or after the issuance date reach a multiple of $1.25 million, which is the face value of one bond, Metaplanet can redeem the same number of bonds by the multiplier at $1 per $1 of face value on the next trading day. It’s all very thrilling, isn’t it? One can hardly contain the excitement! 😄

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2025-05-28 15:02