Metaplanet eyes more bitcoin purchases with new $50 million bond raise
Quick Take
- The Japanese investment company is raising $50 million via private debt placement to expand its bitcoin treasury.
- It recently completed a $104 million purchase of 1,004 BTC, increasing its total holdings to 7,800 BTC.
Metaplanet, often dubbed Asia’s Strategy for its bullish bitcoin strategy, has issued $50 million in zero-interest bonds to finance further BTC purchases.
According to a Thursday filing, the bond issuance — Metaplanet’s 16th to date — was fully subscribed by Evo Fund, a Cayman Islands-based investment firm. Evo has backed several of the Tokyo-listed company’s previous bond rounds, supporting its long-term bitcoin accumulation plan.
Following the announcement, Metaplanet shares rose 9.5% at the close of trading in Japan on May 28, data from Yahoo Finance showed.
The move comes as bitcoin trades near record highs. BTC briefly tapped $111,889 on exchanges such as Coinbase last week. As of writing, the asset traded flat at $108,870, per The Block’s price page.
Metaplanet is currently Asia’s largest publicly traded bitcoin holder and ranks 11th globally, according to data from BitcoinTreasuries.net. The firm began accumulating BTC in April 2024, with a stated goal of reaching 10,000 BTC by the end of 2025. Last week, Metaplanet disclosed it had purchased an additional 1,004 BTC for approximately $104 million, bringing its total holdings to 7,800 BTC.
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