Japanese investment firm Metaplanet is seeking to raise $50 million by issuing zero-interest bonds as part of its plan to increase its Bitcoin holdings.
In an announcement made on May 28, the company stated it is raising $50 million through its bond issuance. The bonds are sold in denominations of $1.25 million and do not accrue interest. Investors will not receive periodic payments; any potential gains are anticipated from the redemption value of the bonds.
Evo Fund, an investment firm based in the Cayman Islands, will act as the exclusive bondholder. This investment company has been the main supporter of Metaplanet’s Bitcoin acquisition strategy, participating in multiple rounds of Metaplanet’s zero-interest bonds and supplying capital for its Bitcoin purchases.