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Metaplanet announced it intends to issue ¥8 billion ($50 million) in zero-interest bonds to bolster its Bitcoin reserves, according to a Friday communication, continuing a financing approach that has shaped its pivot toward digital assets on its balance sheet.
This issuance signifies the firm’s twentieth tranche of ordinary bonds, scheduled to mature in April 2027. The bonds are unsecured and bear no interest, providing the company with capital access without the burden of debt servicing expenses. The funds raised are designated for further Bitcoin acquisitions, with repayment set at face value upon maturity.
The bonds were placed with EVO FUND, an investor based in the Cayman Islands affiliated with Evolution Financial Group, which has previously supported several of the company’s capital raises. The agreement permits the fund to request early redemption with five business days’ notice, while Metaplanet reserves the right to repurchase all or a portion of the issuance should it secure additional funding from the same entity.
At the current Bitcoin valuation approaching $78,000, the fundraising could enable Metaplanet to procure between 640 and 700 BTC. The company currently possesses 40,177 BTC, valued at approximately $3.1 billion, positioning it as the premier corporate Bitcoin holder in Japan and the third largest among publicly traded companies.
Metaplanet has established a goal of accumulating 100,000 BTC by the conclusion of 2026 and 210,000 BTC by the end of 2027. The most recent fundraising effort follows a first quarter during which the firm added 5,075 BTC, reporting a BTC Yield of 2.8%.
Metaplanet reported a net deficit of ¥95 billion for the fiscal year 2025, primarily due to unrealized valuation decreases linked to fluctuations in Bitcoin’s price. Its average cost of acquisition stands at $104,106 per coin, exceeding current market rates.
Strategy’s significant acquisition
This approach echoes a model observed in the United States, where publicly traded companies utilize capital markets to amass Bitcoin as a treasury reserve asset. The most prominent entity following this model is Strategy.
Earlier this week, Strategy revealed that it acquired 34,164 bitcoin for approximately $2.54 billion, marking one of its most substantial purchases to date. This acquisition increased its total holdings to 815,061 BTC, surpassing BlackRock and bringing its cumulative expenditure to roughly $61.56 billion at an average cost close to current market values.
The transaction was financed through the sale of equity and its STRC preferred stock offering, which has emerged as a crucial financing instrument.
Despite its expanding holdings — now representing over 3.8% of bitcoin’s total supply — the company’s shares experienced a decline in pre-market trading as investors evaluated the firm’s aggressive financial strategy.
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Information compiled from materials : bitcoinmagazine.com