Tokyo-based Metaplanet announced that it has raised $24.7 million through bonds to buy more Bitcoin (BTC), securing its place as a top corporate crypto holder. This aggressive push highlights the firm’s belief in Bitcoin as a shield against economic uncertainty.
Metaplanet Prepares for BTC Shopping
Metaplanet issued zero-interest bonds, a strategic move to gather $24.7 million without promising interest payments. The bonds, part of its 11th series, were sold to EVO FUND, with repayment planned using proceeds from stock acquisition rights. The cash is earmarked for buying more Bitcoin, boosting Metaplanet’s reserves.
This follows a $13.3 million bond issuance in March 2025, also for BTC purchases, showing a clear pattern of using debt to fuel crypto growth. The firm’s strategy is to stack Bitcoin as a core asset, betting on its long-term value amid global market volatility.
Why Bonds Beat Other Fundraising Methods
Issuing bonds likely gives Metaplanet a low-cost way to raise big money without diluting shareholder value, unlike selling new stock. Zero-interest bonds are especially attractive, as they avoid costly payouts, letting the firm focus funds on Bitcoin buys. This method also sidesteps yen-based fees, as seen in their USD-denominated bonds, making it efficient for global markets.
The company’s past raises, like the $13.4 million in February 2025, detailed in a notice, included an early redemption option and appointed a bond administrator, indicating the company’s strategic shift to use Bitcoin as its primary treasury reserve asset. Following this playbook has reportedly proven to be a success.
Following this purchase, Metaplanet held about 2,391 BTC acquired at various market prices, attaining an average purchase price of $81,886 per bitcoin. Meanwhile, the company has spent approximately $196 million on BTC purchases since adopting the crypto as a reserve in early 2024.
Metaplanet’s bond-fueled Bitcoin spree is no strange development. Strategy (formerly MicroStrategy), a U.S. firm, has used convertible notes to raise billions, holding 538,200 BTC by April 2025. Both companies highlight how debt can supercharge crypto portfolios, betting big on Bitcoin’s future. As Metaplanet eyes a U.S. subsidiary and $250 million more, its bond strategy could inspire others to follow suit.
