Tokyo-based investment and consulting firm Metaplanet Inc. has announced plans to issue ¥1 billion ($6.26 million) in bonds to fund the purchase of additional Bitcoin. If successful, this move would increase Metaplanet's total Bitcoin holdings to 241 BTC, valued at approximately $15 million.

In a notice issued on Monday, June 24, Metaplanet’s board confirmed its approval of the bond issuance, emphasizing that the acquired Bitcoin would be held for the long term. The bonds are set to offer an annual interest rate of 0.5%.

Following the announcement, Metaplanet's stock surged 11.5% on Monday, trading at 96 yen ($0.60). This rise continues a remarkable trend, with the company’s stock price having skyrocketed by over 500% this year, as reported by Google Finance.

Simultaneously, Bitcoin has experienced a downturn, reaching a 40-day low. It dropped 2.6% in the past day to $62,733, after nearing $72,000 in early June, according to CoinGecko data. At the current Bitcoin price, the ¥1 billion bond issuance would enable Metaplanet to acquire nearly 100 BTC, specifically around 99.84 BTC.

Metaplanet’s planned Bitcoin acquisition follows a recent purchase on June 11, when the company added 23.25 BTC to its holdings, bringing its total to 141.07 BTC. The firm initially entered the Bitcoin market in mid-May with the acquisition of 117 BTC, adopting a "Bitcoin-first, Bitcoin-only" strategy as a response to ongoing economic pressures in Japan.

Despite its aggressive Bitcoin acquisition strategy, Metaplanet's average purchasing price was reported to be ¥10.28 million ($65,365) per Bitcoin, indicating a current unrealized loss based on the recent market price.

Metaplanet's strategy and soaring share price have drawn comparisons to MicroStrategy, a U.S. software company renowned for its substantial Bitcoin holdings. MicroStrategy currently holds the record for the most Bitcoin owned by a publicly traded company, with 214,400 BTC valued at $13.4 billion, according to Bitbo data.

Metaplanet's bold move underscores a growing trend among corporations to hedge against economic instability through significant investments in cryptocurrency, positioning itself as a notable player in the global Bitcoin market.