Metaplanet has successfully raised ¥2 billion ($13.3 million) through a zero-interest bond aimed at boosting its Bitcoin holdings.
The bond issuance was approved on March 12, with maturity set for September 11, 2025. Proceeds from this initiative will be directed towards increasing the company’s Bitcoin (BTC) reserves, with repayment anticipated through the exercise of Metaplanet’s stock acquisition rights spanning the 14th to 17th series.
This bond structure permits early redemption, allowing Metaplanet to repay at face value if sufficient funds are secured from its stock acquisition rights. Bondholders also have the option for early redemption upon prior notice. Notably, no collateral or guarantees are tied to this bond issuance.
Since implementing a Bitcoin-centric strategy in 2023, Metaplanet has steadily expanded its Bitcoin holdings. The company’s approach resembles the debt-financing model previously adopted by other major market players, tapping into Japan’s favorable borrowing rates to enhance its Bitcoin inventory and establish itself as a key corporate BTC stakeholder in Asia.
As of its most recent acquisition on March 5, Metaplanet now holds 2,888 BTC, recently eclipsing Boyaa Interactive International to become the largest corporate Bitcoin holder in Asia. Globally, it ranks 12th among corporate Bitcoin holders.
With a total investment reaching ¥36.44 billion ($242 million), the company’s average purchase price for Bitcoin stands at ¥12.62 million ($84,000) per BTC. Metaplanet has set ambitious targets, aspiring to increase its holdings to 21,000 BTC by 2026 and 10,000 BTC by the end of 2025. From January 1 to March 5, 2025, its BTC Yield, indicating Bitcoin per fully diluted share, reached 45.1%, marking a significant growth of 309.8% in the fourth quarter of 2024.
As institutional interest in Bitcoin surges and supply constraints tighten, Metaplanet’s strategy reflects a growing trend of businesses leveraging innovative financial instruments to enhance their exposure to digital assets.
