Japanese investment firm Metaplanet has announced the issuance of another set of 0% ordinary bonds to EVO FUND, valued at $13.35 million (¥2 billion), with the intent of acquiring more Bitcoin. This move aligns with Metaplanet’s long-term strategy of expanding its BTC treasury as it continues to strengthen its position as one of Asia’s largest corporate Bitcoin holders.
Ninth Bond Issuance for Bitcoin Acquisition
According to a March 18 regulatory filing, Metaplanet’s board of directors approved the bond issuance, marking the ninth issuance of ordinary bonds by the firm. The funds will be fully allocated to EVO FUND, and as per the agreement, the bonds:
- Carry no interest (0% coupon rate)
- Can be redeemed in full on September 17, 2025, at ¥100 per ¥100 of the bonds’ face value
- Allow early redemption, provided EVO FUND submits a written notice at least one business day in advance
- Have no collateral or guarantee attached
Funding Strategy and Bitcoin Treasury Expansion
Metaplanet has stated that funds for bond redemption will come from the 14th to 17th Series of Stock Acquisition Rights, which it expects to exercise. Despite the announcement, Metaplanet’s shares dipped by nearly 0.5% to ¥4,030, according to Google Finance.
This issuance follows a similar bond sale on February 27, where Metaplanet raised ¥2 billion ($13.6 million) to purchase Bitcoin. The firm has been actively growing its BTC reserves since launching its Bitcoin Treasury Operations in April 2024.
Recent Bitcoin Purchases and Strategic Outlook
Metaplanet has been consistently adding to its Bitcoin holdings:
- March 12, 2025: Purchased 162 BTC, bringing total holdings to 3,050 BTC, valued at over $251 million at current market prices.
- With the latest bond issuance, the firm is expected to increase its Bitcoin reserves further, reinforcing its commitment to leveraging BTC as a strategic asset.
As Metaplanet continues its Bitcoin-first strategy, its approach mirrors that of MicroStrategy, which has adopted BTC as its primary reserve asset. This latest bond issuance signals the company’s long-term confidence in Bitcoin’s value proposition while leveraging strategic financial instruments to accumulate more BTC.
