Japan's Metaplanet Gears Up for Bitcoin Accumulation

Japan’s publicly listed bitcoin treasury company, Metaplanet Inc., is doubling down, issuing $13.3 million in zero-interest bonds to aggressively expand its bitcoin holdings.

Japan-based bitcoin treasury company, Metaplanet Inc. (Tokyo Stock Exchange: 3350 / OTCQX: MTPLF), announced on Friday its intention to further invest in bitcoin.

The company’s board of directors has approved the issuance of its 10th series of ordinary bonds, fully subscribed by EVO FUND, a digital asset-focused investment fund.

This latest bond issuance totals 2 billion yen (approximately $13.3 million) and will be used to purchase additional bitcoin.

The move follows a previous announcement made on Jan. 28, where Metaplanet outlined its intent to use capital raised through stock acquisition rights to bolster its bitcoin reserves.

Earlier this month, Metaplanet disclosed the latest purchase of 150 BTC, increasing its total holdings to 3,350 BTC.

The 10th series of bonds will be issued at par, carry zero interest and have a full face value repayment at maturity.

Each bond has a denomination of 50 million yen, with redemption planned for Sept. 30.

EVO FUND can request early redemption with at least one business day’s notice.

Early redemptions could also be triggered if capital raised from the 14th through 17th Series of Stock Acquisition Rights reaches multiples of the bond’s face value.

In such cases, the company may retire portions of the bonds on the next trading day or another agreed-upon date.

The issuance will not be backed by collateral or guarantees, nor will it require a bond administrator as stipulated under Japan’s Companies Act.

Payments will be managed directly by Metaplanet from its office in Tokyo.

The firm assessed the move’s financial implications as limited: “The issuance of these bonds is expected to have a minimal impact on the company’s consolidated financial results for the fiscal year ending December 2025.”