TLDR
Metaplanet issued its 9th series of 0% ordinary bonds worth ¥2 billion ($13.35-13.4 million) to EVO FUND to purchase more Bitcoin
The bonds will be redeemed in full on September 17, 2025, with early redemption options available
Metaplanet recently bought 150-162 BTC, bringing total holdings to 3,050-3,200 BTC (worth $251-265 million)
The company has been gradually acquiring BTC since launching its Bitcoin Treasury Operations in April 2024
Metaplanet is now the 10th-largest BTC-holding public entity according to bitcointreasuries.net
Metaplanet, a Tokyo-based investment firm, has issued its ninth series of 0% ordinary bonds to EVO FUND. The bonds are worth ¥2 billion ($13.35-13.4 million) and will be used to purchase more Bitcoin.
The decision was made at a board of directors meeting and announced in a regulatory filing on March 18, 2025. This marks Metaplanet’s continued push to grow its Bitcoin holdings as one of Asia’s largest corporate Bitcoin holders.
The bonds carry no interest and can be redeemed in full on September 17, 2025. Each bond will be redeemed at ¥100 per ¥100 of face value.
EVO FUND has the option to redeem the bonds early. They can do this by giving Metaplanet written notice at least one business day before the desired redemption date.
Early redemption can be made for all or part of the outstanding bonds. This gives EVO FUND flexibility in managing their investment.
Metaplanet plans to pay for the redemption using proceeds from their 14th to 17th Series of Stock Acquisition Rights. The company expects to exercise these rights before the redemption date.
The bond issuance has been fully allocated to EVO FUND. There is no guarantee or collateral attached to the bonds.
Following the announcement, Metaplanet’s shares dipped by nearly 0.5% to ¥4,030 according to Google Finance. This suggests a mild market reaction to the news.
*Metaplanet Issues 2 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/RhXoSZD3bw
— Metaplanet Inc. (@Metaplanet_JP) March 18, 2025
This isn’t the first time Metaplanet has issued such bonds. On February 27, the company issued ordinary bonds to EVO FUND for the same amount of ¥2 billion (worth $13.6 million at that time).
Metaplanet’s Growing Bitcoin Position
Metaplanet has been steadily building its Bitcoin reserves since April 2024. This was when the company launched its Bitcoin Treasury Operations initiative.
Most recently, Metaplanet purchased 150-162 BTC for about $12.5-13.5 million. Reports vary on the exact amount, but the purchase price averaged around $83,123 per Bitcoin.
This latest purchase brings Metaplanet’s total Bitcoin holdings to between 3,050-3,200 BTC. At current market prices, this is worth approximately $251-265 million.
According to bitcointreasuries.net, Metaplanet is now the 10th-largest public entity holding Bitcoin. This positions the company as a major player in the corporate Bitcoin space.
The company appears to be taking advantage of Bitcoin’s recent price correction. Bitcoin is currently trading around $83,300, which is about 24% below its record high reached in January 2025.
Metaplanet stated in its notice to shareholders that the bond issuance is expected to have minimal impact on the company’s financial results for the fiscal year ending December 2025. This suggests the Bitcoin investment is part of a long-term strategy rather than a short-term financial play.
The investment firm continues to demonstrate confidence in Bitcoin as a treasury asset. Their regular bond issuances show a deliberate, structured approach to building their cryptocurrency holdings over time.
