Metaplanet Raises $13.6M for Bitcoin Boost Amid Crypto Slump

Metaplanet, a prominent Japanese investment firm, has raised $13.6 million through the issuance of zero percent ordinary bonds. The funds will be used to bolster the company's cryptocurrency holdings, particularly in Bitcoin. According to a regulatory filing on February 27th, the bonds are interest-free and can be redeemed at face value on August 26th, 2025. However, the bondholder, EVO FUND, has the option to request early redemption, either partially or entirely, with at least one business day's notice.

The entire allocation of the bond issuance will go to EVO FUND, with no collateral or guarantee attached. Despite this positive development, Metaplanet's shares have dropped by nearly 25% due to the ongoing decline in crypto prices.

Metaplanet's strategy mirrors that of U.S.-based tech conglomerate Strategy. The firm has been actively expanding its cryptocurrency portfolio, launching a Bitcoin Treasury Operations program. In the final quarter of 2024, Metaplanet grew its BTC yield by over 300%. Although the growth has slowed to 23.2% this year due to an increase in the total number of shares, the company recently added 135 BTC to its treasury, indicating a renewed interest in investments.