Summary
- Metaplanet announced the launch of a new stock product backed by Bitcoin.
- It was reported that this product can be invested in with Japanese yen and aims for an annual return of 9–10%.
- Metaplanet stated plans to use funds raised via the preferred stock issuance for additional purchases of Bitcoin.
Metaplanet, a publicly listed Japanese company, is introducing a new stock product backed by Bitcoin (BTC).
According to crypto-specialized media outlet Coinpedia on the 4th, Metaplanet stated that it designed this product in response to low interest rates on yen deposits and a negative real interest rate environment. The product allows investment in Japanese yen and targets an annual yield of around 9-10%.
Metaplanet currently holds 13,350 BTC (approximately $1.45 billion). The company also plans to use funds raised through this preferred stock issuance to acquire additional Bitcoin. In the long term, the company aims to secure a total of 210,000 BTC.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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