Metaplanet Issues $21 Million Bonds for Bitcoin Purchases, Stock Jumps 9.5%

Japanese Bitcoin treasury firm Metaplanet has announced a fresh issuance of $21 million in no-interest bonds to fund additional purchases of Bitcoin. The 17th series of ordinary bonds, with a face value of $525,000 each, is scheduled for redemption on November 28, 2025. The entire issuance was sold to the Cayman Islands-based investment firm, Evo Fund, which has been a primary backer of Metaplanet's Bitcoin accumulation plan, subscribing to several rounds of the company's zero-interest bonds.

Metaplanet's aggressive accumulation strategy has been evident in recent months. On Wednesday, the Tokyo-listed investment firm issued $50 million in a new series of bonds, further pushing its Bitcoin treasury strategy. The company expects the issuance to have minimal impact on its consolidated 2025 financial results, stating that it would disclose further developments if needed.

At current prices, the $21 million issuance could allow Metaplanet to purchase approximately 195 Bitcoin. The firm first announced plans to buy Bitcoin in April 2024 and has set an ambitious target of holding 10,000 BTC by the end of 2025. With its current holdings of 7,800 Bitcoin valued at over $839 million, Metaplanet is Asia’s largest public corporate holder of Bitcoin and ranks 11th globally. The company recently accumulated 1,004 BTC early this month.

Metaplanet's expansion plans include establishing a U.S. subsidiary to raise $250 million, further fueling its Bitcoin treasury strategy. The new entity aims to expand access to U.S. institutional investors and bolster 24-hour operations across time zones. The firm's aggressive strategy has garnered significant investor interest, with nearly $1 billion traded daily on Metaplanet. CEO Simon Gerovich shared on X that the company had hit a $5 billion market cap milestone, with its stock price finishing the trading day up 9.5%.