Metaplanet issues $21M in bonds to buy Bitcoin, a day after $50M raise
Japanese investment company Metaplanet issued $21 million in zero-interest bonds to Evo Fund, a Cayman Islands-based investment firm, just a day after announcing a separate $50 million raise, further accelerating its Bitcoin accumulation strategy.
The 17th series of bonds, on May 29, comes with a face value of $525,000 each and will mature on Nov. 28, 2025. Unlike traditional debt instruments, these bonds yield no interest, allowing Metaplanet to borrow without additional repayment costs.
Under the terms, Evo Fund is entitled to early redemption by giving at least five business days’ notice. The bonds can be redeemed in full or in part, in multiples of $525,000.
Metaplanet may also trigger redemptions tied to future fundraising rounds involving the same investor, depending on cumulative payments.
There is no collateral or guarantee attached to the bonds, and no bond administrator has been appointed, as permitted under Japanese corporate law. The company has designated its Tokyo office as the location for payment handling.
Related:
Metaplanet raised $135.2 million this year
Metaplanet has consistently tapped the debt market to fund Bitcoin () purchases, $25.9 million in February, and .
The company’s stated goal is to hold 10,000 BTC by the end of 2025. With this week’s back-to-back fundraising, total capital raised this year has reached $135.2 million.
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Metaplanet holds about 7,800 BTC, to BitcoinTreasuries.NET, placing it at number 11 among the largest corporate Bitcoin holders. With holdings now valued at about $840 million, the company’s average purchase price is $91,340 per Bitcoin.
In March, the firm added of exercised cash-secured put options and premiums earned from selling those contracts. It was followed by another purchase of just before the end of April.
Related:
Metaplanet announces US subsidiary
On May 1, Metaplanet announced US subsidiary, Metaplanet Treasury, based in Florida. The entity plans to raise up to $250 million to further its Bitcoin strategy and tap US capital markets.
The company has also attracted notable figures. Eric Trump, son of former US President Donald Trump, in March.
Notably, the corporate Bitcoin accumulation strategy is gaining momentum. On May 28, GameStop, the US video game and consumer electronics retailer, , acquiring 4,710 Bitcoin.
