Metaplanet's $13M Bitcoin Bond: Fueling Japan's Crypto Ambition

Metaplanet, a Japanese Bitcoin treasury firm, has issued 2 billion Japanese yen ($13.35 million) worth of bonds to expand its Bitcoin reserves. This is the seventh such issuance by the company, which began its aggressive Bitcoin accumulation strategy in May 2024.

On February 27, Metaplanet issued 0% ordinary bonds worth 2 billion yen, solely for the purpose of purchasing Bitcoins. The bonds, with a face value of 50 million yen each, can be repaid in full on August 26, 2025. The funds raised from the bond sale will be invested in Evo Fund, Metaplanet's special fund for Bitcoin purchases.

Since May 13, 2024, Metaplanet has been consistently buying Bitcoin. The company's largest purchase to date was on December 20, 2024, when it acquired 619.7 BTC. As of now, Metaplanet holds approximately 2,235 BTC, valued at around $192.4 million.

Metaplanet's Bitcoin accumulation strategy has drawn comparisons with MicroStrategy, a US software firm that made history with its treasury investments in Bitcoin. Since Metaplanet began its BTC buys, its shares have risen significantly, from 200 yen to 6,650 yen during the early months of 2025, a gain of 3,225%. Although the shares have since retreated to around 4,000 yen, they remain well above levels before the Bitcoin initiative.

Metaplanet has declared its intention to acquire 10,000 Bitcoin in the fourth quarter of 2025 and aims to hold 21,000 BTC by the end of 2026. This would cost around $2 billion at the current price level. The company's long-term aspiration is to tap into Bitcoin's appreciation to add financial security and attract institutional investors. Through a careful acquisition strategy, Metaplanet seeks to solidify its presence in the emerging Bitcoin market, following in the footsteps of MicroStrategy's strategy in the US.