Metaplanet Doubles Down on Bitcoin Bet with $24.7M Bond Offering—Wall Street Still Scratching Heads
Tokyo-based Metaplanet just fired another shot in its aggressive Bitcoin accumulation strategy—issuing $24.7 million in corporate bonds to fuel its crypto treasury pivot. The move comes after its June 2024 Bitcoin purchase sent shockwaves through Japan’s conservative financial circles.
Why bonds? With Japan’s negative interest rate policy still limping along, Metaplanet’s essentially getting paid to borrow money and convert it into hard assets. A hedge against yen weakness? A middle finger to traditional finance? Both?
Meanwhile, legacy investors keep muttering about ’volatility’ while Metaplanet’s Bitcoin holdings already dwarf its market cap. The future’s here—it’s just unevenly distributed (and heavily leveraged).
Metaplanet’s Bitcoin Bet: ¥3.6 Billion in Bonds for BTC Expansion
The company’s Board of Directors approved the decision on May 2, 2025. The 12th Series of Ordinary Bonds will be issued to EVO FUND, with each bond having a face value of ¥90 million.
The bonds will carry no interest and mature on October 31, 2025, with a redemption amount of ¥100 per ¥100 of face value.
“The proceeds raised through this issuance will be allocated to the purchase of Bitcoin,” the firm noted.
Previously, on March 18, Metaplanet issued ¥2 billion ($13.4 million) bonds for the same purpose. To further strengthen its position in the global Bitcoin economy and drive adoption, Metaplanet also formed a Strategic Board of Advisors the same month. Notably, the Japanese firm appointed Eric Trump as the first member.
Furthermore, the company acquired 319 BTC in mid-April for around $26.3 million. According to the latest data from Bitcoin Treasuries, the firm now ranks 11th globally among corporate Bitcoin holders.
With a total of 5,000 BTC, Metaplanet has reached half of its 2025 target. The current value of its holdings is $484.2 million, with an average cost per BTC of $85,558, reflecting a profit of +13.1%.
Meanwhile, since starting its BTC purchases in 2024, the firm’s stock, 3350.T, has also seen remarkable growth. According to Yahoo Finance, the stock has appreciated 1428.5% over the past year. Its year-to-date performance has been equally impressive, with gains of 22.9%.
Metaplanet’s Bitcoin-focused policy mirrors Strategy (formerly MicroStrategy), the largest corporate holder of Bitcoin. BeInCrypto reported that Strategy is also ramping up its Bitcoin plans, allocating $42 billion in equity and $42 billion in fixed income to buy more BTC.
The company is targeting a yield of 25% and aims for a Bitcoin gain of $15 billion by the end of 2025, signaling an aggressive expansion of its Bitcoin holdings.
