Metaplanet Issues $20.5M Bond to Buy More Bitcoin, Becomes Asia's Biggest Public Corporate BTC Holder

In a strategic effort to expand its cryptocurrency portfolio, Japanese investment company Metaplanet has announced the launch of a $20.5 million bond sale.

Japanese investment firm Metaplanet is planning to sell a $21.25 million bond to expand its cryptocurrency portfolio.

According to a statement by the firm on Monday, it will use the money to buy more Bitcoin. The funds would be raised through this bond issuance. This action is in line with Metaplanet’s belief in the digital asset.

Specifically, the bonds are “0% Ordinary Bonds.” Unlike regular bonds, they do not pay interest to the investors. Instead, they are usually sold at a discount and re-issued at par maturity. This strategy allows the company to secure financing without the pressure of future interest payments.

The bond agreement also provides for the bondholder to have the bond redeemed before its maturity date, if they notify the firm in advance.

On Monday, a meeting of Metaplanet’s board of directors decided to issue the bonds to EVO Fund, a Cayman Islands-based investment firm. The bonds are set to run until November 7, 2025. However, the agreement provides for flexibility with a mechanism that allows for early repayment.

This comes shortly after Metaplanet’s latest Bitcoin purchase on May 7. In this purchase, the firm bought the 555 Bitcoins at an average price of $96,134. The sum of money paid for that purchase was $54.4 million.

Following this purchase, the company now holds 5,555 Bitcoins. In total, these coins were purchased within the price tag of about $481,500, making the average purchase price $86,672 per coin.

This makes Metaplanet the biggest public corporate owner of Bitcoin in Asia. Globally, it is in 11th place among public companies in terms of holding Bitcoin.

This expanding reserve is a testament to the company’s long-term commitment to Bitcoin as a treasury asset.

At the Bitcoin for Corporations 2025 event on May 6, Metaplanet’s CEO, Simon Gerovich, was optimistic about the firm’s strategic move.

In his speech, he brought out how the adoption of a Bitcoin-centered model had changed the company into one of the best-performing public equities for 2024.

Metaplanet aligned key performance indicators and finances with Bitcoin, adopting a full Bitcoin-based corporate model.

He added that the business world is already at the brink of a dramatic change, as a “tidal wave of corporate Bitcoin adoption” is about to arrive.

In this regard, Metaplanet’s subsequent investments could be considered an active move to be on the leading edge.

Additionally, at the current market price of Bitcoin (per coin, $104,000), if the firm raises the total $21.25 million, it can purchase over 200 more Bitcoins. This would put it even better for players in the corporate crypto world.

Overall, Metaplanet’s recent bond issuance represents yet another step in its continuous pursuit of integrating Bitcoin into its financial strategy. The company uses unconventional means of fundraising and a constant streak of buying activities.

As a result, it risks establishing a trend of how corporations would deal with digital assets in future situations.