Metaplanet Raises Zero-Interest Loan of $32M to Purchase More Bitcoin

Metaplanet, a popular Japanese firm committed to accruing Bitcoin, has concluded its latest move to raise capital for more acquisitions.

Japanese firm Metaplanet, which is known for its dedication to accumulating Bitcoin, has completed its latest capital raise for further acquisitions.

In a statement on December 20, Metaplanet announced that it has utilized a debt instrument to purchase more Bitcoin. It disclosed raising 5 billion yen ($32 million) through a bond offering to expand its holdings of the flagship cryptocurrency.

As per the announcement, the latest offering marks its 5th ordinary bond issuance. The Japanese firm noted that it offered the financial instrument to EVO FUNDS, which expressed interest following an announcement that it intends to raise another 5 billion yen in its just-concluded 4th ordinary bond issuance.

Metaplanet Raises Zero-Interest Loan for Bitcoin Purchase

The Japanese MicroStrategy, as it is often called, disclosed that the $32 million raised today carries no interest rate. This means it will not share retributions from its Bitcoin purchase or pay APYs to EVO FUNDS.

Furthermore, the loan repayment is due in six months, specifically June 2025. Metaplanet noted that EVO FUNDS will redeem the bond in full at 100 yen per 100 yen principal amount for each bond.

According to the disclosure, the value of each bond is 250 million yen. Hence, the firm will redeem at the rate on the due date or with a written request stating its intention for early recompense.

Metaplanet's Bitcoin Play Yields Results

Since adopting Bitcoin as a strategic reserve in May, Metaplanet has been relentlessly stacking the digital asset. Notably, the firm has raised $61 million through bond sales just this week to buy more Bitcoin.

Meanwhile, the strategy fully mirrors MicroStrategy's playbook. The largest publicly traded company holding Bitcoin has amassed 439,000 BTC ($42.3 billion), backed by its recent penetration into the financial market to raise capital to increase its stash.

Interestingly, Metaplanet's adoption of Bitcoin seems to be steering the firm in the right direction. Data shows that the Japanese firm is nearing reporting its first operating profit in seven years, driven by its Bitcoin embrace.

In the meantime, Metaplanet holds 1,142.287 BTC ($110.5 million), ranking 15th among public companies holding Bitcoin.

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