Metaplanet Issues $13 Million In Bonds For Additional Bitcoin Purchases

Metaplanet is going all in on BTC again — this time with a $13 million war chest. The Japanese Bitcoin treasury company has issued 2 billion Japanese yen ($13.3 million) in zero-interest bonds to continue expanding its BTC reserves.

Metaplanet Issues More Debt To Buy More BTC

On March 31, Metaplanet announced the fresh issuance of 0% ordinary bonds by allocation to fuel its Bitcoin purchases following a meeting of its board of directors. The debt security will be allocated via the company’s Evo fund, allowing investors to redeem the bonds at full face value by Sept. 30.

Metaplanet CEO Simon Gerovich said in an X post that his firm was taking advantage of the recent pullback in crypto prices. The announcement comes as Bitcoin traded hands for around $83,797 at publication time, down 23.2% from its January historic high of nearly $109,000.

Metaplanet is currently the tenth-largest corporate holder of Bitcoin in the world, with a stockpile of 3,350 BTC. Earlier this month, the Tokyo-listed company scooped up 150 Bitcoin, chipping away at its ambitious goal of accumulating 10,000 BTC by 2025 and 21,000 BTC by 2026. 

Continuing An Aggressive Bitcoin Purchase Streak

Meanwhile, Metaplanet is making powerful friends in the United States. Earlier in March, the firm added Eric Trump, son of U.S. President Donald Trump, to its newly established advisory board to bolster its mission to become a “global leader in the Bitcoin economy”.

The latest debt offering signals Metaplanet’s intent to double down on a treasury strategy that’s rapidly gaining popularity among public companies, from GameStop’s $1.3 billion convertible note plan to other notable players like Semler Scientific and Bitcoin mining giant MARA holdings.

The strategy was popularized by Michael Saylor’s software firm Strategy (formerly known as MicroStrategy), which has turned bold Bitcoin accumulation into a corporate identity. Strategy is the top corporate Bitcoin holder, with 528,185 BTC in its coffers, worth over $43 billion, or more than 2% of the 21 million Bitcoin supply limit.