Metaplanet, which currently has the largest Bitcoin (BTC) stash among publicly-traded firms outside North America, said it plans to sell another $50 million in bonds to finance further BTC purchases.
Metaplanet To Issue More Debt For Bitcoin
Metaplanet is raising more funds through another bond issue to expand its growing crypto treasury. The bonds carry no interest and have a redemption date of Nov. 27,2025, Metaplanet announced in a post on X on Thursday.
The Tokyo-based investment company dubbed “Asia’s MicroStrategy” agreed to issue the debt to EVO FUND, making it the 16th such sale to date. The Cayman Islands-based investment firm has been Metaplanet’s main backer for its Bitcoin acquisition strategy, subscribing to several rounds of Metaplanet’s zero-interest bonds, providing capital for its Bitcoin buying blitz.
Metaplanet is currently Asia’s largest publicly traded Bitcoin holder and is the 11th largest globally, as per Bitcoin Treasuries data. The firm started stockpiling Bitcoin in April 2024 after adopting BTC as a core treasury reserve asset, with a stated goal of reaching 10,000 BTC by the end of 2025.
The Japanese firm has stated that its strategy is not just about “embracing digital assets, but also about pioneering a future where finance meets innovation at its core.”
The debt sale announcement follows Metaplanet’s second-biggest BTC purchase, snatching up 1,004 Bitcoin worth over $100 million. This lifted the company’s Bitcoin stash to 7,800 BTC, valued at more than $800 million. Metaplanet is up roughly 20% on its Bitcoin investments.
Metaplanet is notably positioning itself in the mold of Michael Saylor’s Strategy, whose aggressive Bitcoin accumulation strategy has encouraged an increasing number of publicly traded firms to follow suit. Strategy has accumulated around 580,250 BTC worth $62.3 billion.
The timing of Metaplanet’s push into Bitcoin comes as the world’s oldest and largest cryptocurrency recently set a fresh all-time high of $111,814. BTC has, however, retreated to $107,631 as of publication time, according to crypto data provider CoinGecko.