Metaplanet has raised ¥2 billion ($13.3 million) via a zero-interest bond to boost its Bitcoin holdings.
The company announced that these bonds were authorized on March 12 and will mature on September 11, 2025. Proceeds from this issuance will be allocated toward purchasing additional Bitcoin (BTC), with repayment anticipated to be funded by the exercise of Metaplanet’s 14th to 17th Series of Stock Acquisition Rights.
These bonds offer an option for early redemption. Metaplanet can pay them off at their face value if it generates sufficient funds through the stock acquisition rights. Furthermore, bondholders have the option to request early redemption with prior notice. This bond issue does not involve any collateral or guarantees.
Since adopting a Bitcoin-centric strategy in 2023, Metaplanet has been steadily increasing its Bitcoin assets. The company’s approach is reminiscent of that of Strategy (previously known as MicroStrategy), which has utilized a similar debt-financing strategy. By taking advantage of Japan’s low interest rates, Metaplanet aims to solidify its position as a leading corporate holder of Bitcoin in Asia.
As of its latest acquisition on March 5, Metaplanet now possesses 2,888 BTC, surpassing Chinese gaming enterprise Boyaa Interactive International to become the largest corporate Bitcoin holder in the region. The company ranks 12th among corporate Bitcoin holders globally.
With a total investment of ¥36.44 billion ($242 million), Metaplanet’s average purchasing price for BTC stands at ¥12.62 million ($84,000) per coin. The company has set a goal of reaching 21,000 BTC by 2026 and 10,000 BTC by the end of 2025. Its Bitcoin Yield, a metric assessing Bitcoin per fully diluted share, reached 45.1% from January 1 to March 5, 2025, reflecting an increase of 309.8% in Q4 2024.
As more institutions adopt Bitcoin and its supply tightens, Metaplanet’s strategy aligns with a growing trend of companies leveraging innovative financial tools to enhance their exposure to digital assets.