Is Japan’s Metaplanet Betting Big on Bitcoin? $13M Bond Move Sparks Debate!

On March 31, Metaplanet Inc., Japan’s publicly listed company, known for its substantial bitcoin treasury, announced its decision to issue its 10th series of ordinary bonds. The move, approved by the company’s board on the same day, is part of Metaplanet’s ongoing strategy to increase its bitcoin holdings. The bond issuance will raise a total of 2 billion yen (roughly $13.3 million) and will be fully subscribed by EVO FUND, a digital asset-focused investment fund.

Bond Details and Terms

The newly issued bonds come with a unique structure: they carry zero interest and will be redeemed at their full face value. Furthermore, the bonds do not come with any collateral or guarantees, and no bond administrator is required under Japan’s Companies Act.

Purpose of the Fundraising

The main motive behind this issuance of bonds is apparent: Metaplanet wants to invest the funds raised from this issuance into buying more bitcoin. This follows the company’s previous strategy declared in January 2025, where it intended to deploy cash from stock acquisition rights to augment its reserves in bitcoin. Metaplanet just closed a significant purchase of 150 BTC on March 23, expanding its reserves of bitcoin to 3,350 BTC. This latest bond sale continues to reinforce Metaplanet’s determination to build up its bitcoin treasury.

Partnership with EVO FUND

EVO FUND, an investment fund specializing in digital assets, has committed to subscribing to the bonds in full. With its background in structured financing and backing blockchain-aligned businesses, EVO FUND will assist Metaplanet in raising the funds it needs to continue its bitcoin acquisition plans. This collaboration highlights the increasing trend of financial cooperation between conventional firms and investment funds specializing in digital assets in Japan.

Financial Impact and Strategy

Metaplanet has estimated that issuance of bonds will have a negligible effect on its financial performance for the year ending December 2025. Through the issuance of zero-interest bonds, the firm is capable of raising capital for its bitcoin strategy without facing high interest expenses or dilution of its current stock. The firm anticipates the action to have minimal financial effects, and it remains committed to its long-term bitcoin investment approach.

Metaplanet’s move to sell bonds backed by no collateral is an indication of how much faith it has in its business model and blockchain technology. With no immediate financial pressure from interest payments, the company is setting itself up for increased growth in the digital asset sector.

Looking Ahead

With its 10th series of bonds, Metaplanet solidifies its leadership in the field of corporate bitcoin treasuries. The company’s continued investments in bitcoin are indicative of larger trends of institutional investment and corporate diversification into digital assets. As the cryptocurrency and blockchain technology market continues to develop, Metaplanet’s strategy sets it up to capitalize on future growth in the digital asset space.