Japanese investment firm Metaplanet is raising $50 million through a private placement of zero-interest bonds as part of its ongoing strategy to increase its Bitcoin exposure.
In a May 28 announcement, the company that it was raising $50 million through bonds. The bonds are issued in $1.25 million denominations and carry no interest. Investors will not receive regular payments, with any potential profit expected to come from the bond’s redemption value.
Evo Fund, a Cayman Islands-based investment firm, will be the sole bondholder. The investment company has been Metaplanet’s primary backer for its Bitcoin acquisition strategy, subscribing to multiple rounds of Metaplanet’s zero-interest bonds, providing capital for its Bitcoin (BTC) buys.
The bonds are unsecured and unguaranteed, having neither a bond administrator nor collateral. This reflects a high degree of trust between the two companies. It also shows confidence in BTC’s long-term outlook as Metaplanet continues to