Key Points
- Japanese investment firm Metaplanet has issued $13.6 million in 0% bonds to fund additional Bitcoin purchases.
- The bonds, issued to EVO FUND, are part of Metaplanet’s ongoing strategy to increase its digital asset holdings.
Japan-based Metaplanet is launching 2 billion JPY (approximately $13.6 million) in bonds. The firm plans to use the raised funds to buy more Bitcoin (BTC) as part of its ongoing strategy to boost its digital asset holdings.
Details of the Bond Issuance
In a regulatory filing, Metaplanet revealed that the bonds carry no interest and will be redeemed at face value on August 26. The bondholder, EVO FUND, has the option to request early redemption at any time. The document further explains that early redemption can be made for all or part of the outstanding bonds, as long as the request is made at least one business day in advance.
The money needed for the redemption of the bonds will come from the proceeds of the 13th to 17th Series of Stock Acquisition Rights, which Metaplanet plans to exercise. If the funds from these exercises reach a multiple of 50 million JPY, part of the bonds may be redeemed early.
Allocations and Impact
The bond issuance will be fully allocated to EVO FUND, with no guarantee or collateral attached to the bonds, as per the document. Despite this news, Metaplanet’s shares have dropped nearly 25% as crypto prices experience a week-long decline.
This announcement comes just two days after Metaplanet added 135 BTC to its treasury, strengthening its position as one of Japan’s most active corporate Bitcoin investors.
Similar to Strategy — formerly known as MicroStrategy —, which owns the largest corporate Bitcoin treasuries, Metaplanet has been gradually growing its holdings since launching its Bitcoin Treasury Operations. The firm’s BTC Yield, which measures the amount of Bitcoin held per share, grew by 309.8% in Q4 2024. However, it has slowed down to 23.2% in early 2025 as Metaplanet increased the number of its shares.
