Metaplanet Doubles Down on Bitcoin Bet with $21M Zero-Coupon Bond Play

In a bold move that screams ’institutional FOMO,’ Japan’s Metaplanet just raised $21 million through no-interest bonds—all to stack more Bitcoin. Because when traditional yields flatline, why not chase crypto’s volatility rollercoaster?

The corporate treasury shuffle: Ditching bondholder payouts to gamble on Satoshi’s invention. Wall Street’s spreadsheet jockeys are either sweating or shorting.

One thing’s clear: In a world of negative real rates, even zombie companies would rather hodl than hold cash. Tick-tock, macro.

Bonds Issuance Would Have Minimal Impact on Metaplanet’s 2025 Financial Results

The company clarified that each of the bonds WOULD have a face value of $525,000 and shall be redeemed at par.

Further, Metaplanet said that it expects the issuance to have minimal impact on its consolidated 2025 financial results. Metaplanet added that it would disclose further developments if needed.

At current prices, the company could buy 195 Bitcoin from the issuance of $21 million, according to CoinGecko. Metaplanet first flagged plans to buy Bitcoin in April 2024 and has set an ambitious target of holding 10,000 BTC by the end of 2025.

With its current stash of 7,800 Bitcoin valued at over $839 million, BitcoinTreasuries.NET data shows that the firm is Asia’s largest public corporate holder of Bitcoin and ranks 11th globally. The company accumulated 1,004 BTC early this month.

Besides, Metaplanet’s stock has shot up more than 1,985% in the last year and is trading for 1,168 Japanese yen ($8.01), according to Google Finance.

Metaplanet’s Expansion Plans

Last month, the firm announced plans to establish a U.S. subsidiary, aiming to raise $250 million to further fuel its Bitcoin treasury strategy.

The new entity would expand its access to U.S. institutional investors and bolster 24-hour operations across time zones, Metaplanet said.

On Wednesday, nearly $1 billion was traded daily on Metaplanet, showing increased investor interest.

CEO Simon Gerovich shared on X that the company had hit a $5 billion market cap milestone, with its stock price finishing the trading day up 9.5%. “Bitcoin to the moon,” wrote Gerovich.

$1B+ in daily trading volume
$5B market cap milestone
Bitcoin to the moon pic.twitter.com/C5Az5EIE1P