Key Points
- Metaplanet Inc. has issued $13.6 million in ordinary bonds to fund further Bitcoin purchases.
- The company’s stock price fell nearly 20% following the announcement, reflecting the broader downturn in the crypto market.
Metaplanet Inc., a Japanese financial services firm listed on the Tokyo Stock Exchange, is advancing its Bitcoin purchase strategy. The company recently issued its 7th Series of Ordinary Bonds, aiming to use the funds raised from these bonds to buy more Bitcoin. The bonds total 2 billion JPY, approximately worth $13.6 million.
About the Bond Issuance
Details about the bond issuance were shared by Metaplanet in a regulatory document dated February 27. According to the filing, the bonds are the company’s 7th Series of Ordinary Bonds to EVO FUND. These bonds carry no interest and will be redeemable at face value on August 26.
Bondholders may request early redemption of all or part of the outstanding Bond at JPY 100 per JPY 100 of face value. This is conditional on providing written notice to the company at least one business day before the desired early redemption date.
The funds required to redeem the bonds will come from the 13th to 17th Series of Stock Acquisition Rights proceeds. Metaplanet expects to exercise this right, per the filing. The company may redeem a corresponding portion of the bonds earlier than the redemption date if the funds from these exercises reach a multiple of 50 million JPY.
Both Metaplanet and the bondholders can mutually agree upon an early redemption date. The bond will not bear collateral or guarantee, and the entire issuance will be allocated to the EVO FUND.
Despite the recent news, Metaplanet’s shares have not responded positively. The stock price dropped nearly 20% from the previous day to trade at 4,010 JPY. This decline corresponds with the recent downturn in the crypto market.
Crypto Market Update
Bitcoin, the flagship cryptocurrency, has fallen 2.06% in the last 24 hours to trade at $86,488. Leading altcoins, including Ethereum, XRP, and Binance Coin, have also seen significant declines, plummeting 4.43%, 2.19%, and 2.53%, respectively.
Metaplanet’s Commitment to Bitcoin
Metaplanet’s share bond issuance comes just two days after the firm added 135 BTC to its treasury. This Bitcoin purchase strengthens its position as one of Japan’s most active corporate Bitcoin investors.
The Japanese firm is following in the footsteps of Strategy, formerly MicroStrategy, which owns the biggest corporate Bitcoin treasury. Strategy, under the leadership of Michael Saylor, also raises funds through Convertible Senior Notes to buy more Bitcoin.
Metaplanet has continued to grow its holdings since launching its Bitcoin Treasury Operations in April 2024. The company has hit 10% of its 2026 target, holding approximately 2,100 BTC in its reserve.
The company’s BTC Yield, which measures the amount of Bitcoin held per share, grew by 309.8% in Q4 2024. The yield, however, slowed to 23.2% in early 2025 as Metaplanet increased the number of its shares. Despite this, the firm’s decision to continually purchase Bitcoin demonstrates its commitment to the coin’s future.
