Japanese public company Metaplanet is set to raise ¥1 billion in funds by issuing 0.5% bonds to buy more Bitcoin. Ok, this is normal news that bridges crypto and stocks, but there is something behind this.
Buy Bitcoin Cheap Gimmick
The Japanese currency is very cheap; ¥1 billion can buy only 100 BTC (that too at the current price), but the important thing is that Metaplanet has previously raised funds and bought 141 bitcoins. This new purchase will increase Metaplanet's BTC reserves to 241 BTC, that too through a mere 0.5% bond, when its market cap is not even $85 million.
Bitcoin Will Lead the Company
Bitcoin will lead a company's market value, just like giant companies like Microstrategy, Fedility, BlackRock, etc. are leading. Metaplanet is building a future for itself with this gimmick: selling cheap bonds in the name of Bitcoin.
