Japanese Public Company Metaplanet Raises $21.25 Million in Zero-Coupon Bonds to Buy More Bitcoin

Japanese public company Metaplanet announced it will issue $21.25 million in zero-coupon bonds to fund additional Bitcoin purchases. This is the Company’s third bond issuance in just one week

Japanese public company Metaplanet is issuing $21.25 million in zero-coupon bonds to fund additional Bitcoin purchases, according to a regulatory filing on Friday.

The Tokyo-based Company will issue its 14th Series of Ordinary Bonds to EVO FUND, with each bond having a face value of $625,000 and maturing on November 7, 2025, without any interest rate.

“The funds raised will be allocated to the purchase of Bitcoin,” Metaplanet stated, referencing its previously disclosed Bitcoin acquisition strategy from January 2025. The Company plans to secure funds for bond redemption through proceeds generated from the exercise of its 15th and 16th Series of Stock Acquisition Rights.

The latest bond issuance follows two separate $25 million raises earlier this week, bringing Metaplanet’s total bond offerings to over $71 million in seven days. The Company currently holds 5,555 Bitcoin worth approximately $570 million at current prices, making it the largest Bitcoin treasury among publicly traded companies outside North America.

Simon Gerovich, Representative Director at Metaplanet, has been steering the Company’s Bitcoin-focused strategy since early 2024. The firm ranks as the 11th largest public company Bitcoin holder globally, trailing only North American entities like Strategy and BlackRock’s Bitcoin ETF.

Under the terms of the bond agreement, EVO FUND may request early redemption with one business day’s notice. Additionally, Metaplanet can initiate early redemptions in $625,000 increments if proceeds from stock acquisition rights exercises exceed certain thresholds.

“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. If any material impact on our financial performance or other matters arises, we will provide an update promptly,” the Company noted in its filing.

Bitcoin is currently trading at $102,858, showing a rise of 3.11% over the past 24 hours. As major institutions are putting more interest in Bitcoin, we can expect to see more of this type of investment vehicle.

This issuance highlights Metaplanet’s persistent efforts to build its treasury through strategic debt offerings, following the investment approach that has been adopted by leading institutional Bitcoin holders worldwide.