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Japanese hotel firm Metaplanet (3350) said it plans to sell another $21.25 million worth of bonds to fund further bitcoin ( BTC ) purchases.

The Tokyo-based firm agreed to issue the debt to EVO FUND on May 9, making it the third such sale in the space of a week, following two issues of $25 million each .

The bonds will not bear any interest and have a redemption date of Nov. 9, Metaplanet announced in a post on X on Friday .

The firm's bitcoin stash currently sits at 5,555 BTC ($576 million), the 11th largest holding among publicly-traded companies and the largest of firms outside North America.

Metaplanet shares closed 2.75% higher on Friday at 524 yen ($3.61), outperforming the Nikkei 225 which gained 1.56%.

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