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Metaplanet subsidiary Bitcoin Japan has announced it entered into a financing agreement to start a crypto treasury

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Mathew Di Salvo.

Bitcoin Japan, a subsidiary of Asia’s answer to Strategy, Metaplanet, has announced it entered into a financing agreement to start buying the leading cryptocurrency for its treasury.

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Summary

Metaplanet subsidiary Bitcoin Japan has announced it entered into a financing agreement to start a crypto treasury. The Tokyo-based, publicly-listed company said Thursday that it had approved a convertible bond deal with EVO Fund to raise 9.66 billion yen ($59.5 million). Bitcoin Japan works on Bitcoin-related media, data platforms and events to promote the understanding of the leading cryptocurrency in Japan and “contribute to the development of its ecosystem globally,” according to its website. Its parent company, Metaplanet, is a publicly-traded company following in the footsteps of Nasdaq-listed Strategy, formerly MicroStrategy, by buying and holding Bitcoin on its balance sheet.

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