Metaplanet, Japan’s increasingly Bitcoin-hungry investment firm, is gearing up for yet another major BTC buy — this time by raising $21.25 million through a fresh issue of zero-coupon bonds.
Just days after snapping up 555 Bitcoin for $53.4 million on May 7 — at an average price of $96,134 per coin — Metaplanet is already setting the stage for its next purchase. In a May 9 announcement, the Tokyo-listed firm confirmed that proceeds from this latest bond round will be used exclusively to scoop up more Bitcoin.
Another Bold Bitcoin Bet
The company will issue what it’s calling “0% Ordinary Bonds” — meaning they won’t pay interest but are likely offered at a discount, maturing at full face value. The bonds will be backed by a 14th Stock Acquisition Right, to be issued to EVO Fund, a Cayman Islands-based investment firm. The redemption date for the bonds is set for November 7.
If Bitcoin stays around its current price of $103,000, Metaplanet could walk away with roughly 206 additional BTC from this round alone, according to CoinGecko data.
Building Asia’s Largest Bitcoin Treasury
With this move, Metaplanet is tightening its grip on the title of Asia’s largest publicly traded corporate Bitcoin holder — a position confirmed by BitcoinTreasuries.net. Globally, it now ranks 11th among companies holding Bitcoin on their balance sheets.
Since first signaling its Bitcoin strategy in April 2024, Metaplanet has moved aggressively. As of now, its total BTC holdings sit at 5,555 coins, acquired for a total of $481.5 million at an average price of $86,672.
Investors have clearly noticed. The company’s stock (TSE: 3350) has skyrocketed more than 1,600% over the past year, now trading around 511 JPY ($3.50) according to Google Finance.
Eyes on the U.S. Market
Metaplanet’s ambitions extend well beyond Japan. On May 1, the company announced it was launching a fully owned U.S. subsidiary called Metaplanet Treasury, headquartered in Florida. The goal? Tap into U.S. capital markets and raise $250 million to further fund its Bitcoin accumulation plan.
This U.S. expansion underscores the firm’s long-term vision: positioning itself as a global Bitcoin powerhouse.
A Trend Gaining Steam
Metaplanet is far from alone. More and more companies are converting portions of their balance sheets into Bitcoin, following in the footsteps of MicroStrategy and its outspoken chairman, Michael Saylor.
- On May 7, Strive Asset Management revealed plans to transition into a Bitcoin treasury company.
- Earlier in April, GameStop (GME) raised $1.5 billion through a convertible debt offering, with some of those funds allocated for BTC purchases.
And with Metaplanet’s relentless momentum, the corporate Bitcoin race just got a new front-runner in Asia.
