Metaplanet Issues 2B Yen in Zero-Interest Bonds for Additional BTC Acquisition

Metaplanet has issued ¥2 billion (approximately $13.3 million) in zero-interest bonds to fund the expansion of its Bitcoin holdings. This move, approved on March 12, aims to further strengthen Metaplanet’s position as a major corporate Bitcoin holder in Asia. The bonds, which will mature on September 11, 2025, allow for early redemption, with the company planning to repay the bonds through the exercise of its 14th to 17th Series of Stock Acquisition Rights.

The company’s strategy to acquire Bitcoin using debt financing, similar to MicroStrategy’s approach, capitalizes on Japan’s low borrowing costs. It has been steadily increasing its Bitcoin reserves since adopting a Bitcoin-focused strategy in 2023. The funds raised through these bonds will directly contribute to purchasing more Bitcoin.

As of March 5, 2025, Metaplanet holds 2,888 BTC, surpassing Boyaa Interactive International as the largest corporate Bitcoin holder in Asia. Metaplanet is now ranked 12th among corporate Bitcoin holders globally. With a total investment of ¥36.44 billion (approximately $242 million), the company’s average purchase price for Bitcoin is around ¥12.62 million (around $84,000) per BTC.

Metaplanet has set ambitious goals, aiming to hold 21,000 BTC by 2026 and 10,000 BTC by the end of 2025. Additionally, the company’s BTC Yield (Bitcoin per fully diluted share) has surged, hitting 45.1% as of March 2025, showing significant growth, particularly with a 309.8% increase in Q4 2024.

This strategy reflects the broader trend of institutions using innovative financial instruments to gain exposure to digital assets as Bitcoin’s supply becomes more limited and its institutional adoption increases.