Metaplanet Ordinary Bonds Worth ¥5 Billion Issued to Boost Bitcoin Holdings

Key Points:

• Metaplanet, a Tokyo Stock Exchange-listed company, has issued ¥5 billion ($31.8 million) in zero-interest bonds to fund its Bitcoin acquisition strategy.
• Metaplanet Ordinary Bonds issuing mirrors MicroStrategy’s approach, making the company a notable player in the growing trend of corporate Bitcoin investments in Asia.

Metaplanet, a publicly listed Japanese company on the Tokyo Stock Exchange, is ramping up its Bitcoin acquisition. The company has issued ¥5 billion, or $31.8 million, in zero-interest bonds to finance the strategy.

Read more: Metaplanet Bitcoin Investment Continues to Boost With $62 Million Raised 

Metaplanet Ordinary Bonds Issued to Boost Bitcoin Holdings

This is the issuance of Metaplanet Normal Bonds, which are basically without interest and meant to augment the company’s Bitcoin reserves.

The bonds would be issued by EVO FUND, and the transfer of these bonds would happen in one or many tranches. The maturity date is set for June 16, 2025, but bondholders will have the option to call. Metaplanet estimates that the transaction will have a minor influence on its financial results on December 31, 2024. Proceeds from the Metaplanet Ordinary Bonds will only be invested into Bitcoin.

Company’s Bitcoin Strategy Mirrors MicroStrategy’s Corporate Playbook

Metaplanet’s strategy of acquiring Bitcoin mirrors that of MicroStrategy, a leader in corporate Bitcoin holdings. The aggressive approach has made Metaplanet the second-largest holder of Bitcoin in Asia, after Boyaa Interactive. The company currently holds 1,142 Bitcoin, valued at approximately $110 million.

The move comes only a month after Metaplanet raised ¥1.75 billion ($12 million) from another bond issuance. In keeping with this continued strategy, it would seem Metaplanet is bent on adding to its hoard of cryptocurrency.