Metaplanet to Raise Additional $21M via Bonds to Expand Bitcoin Holdings

Japanese investment firm Metaplanet is having an aggressive Bitcoin accumulation strategy. Two days after revealing a $53.4 million Bitcoin purchase, the Tokyo-listed company announced plans to raise more money. They plan to add an additional $21.25 million through zero-coupon bonds. This fund will be used to acquire more Bitcoin.

The fresh capital shows Metaplanet’s growing commitment to Bitcoin as a strategic reserve asset. Additionally, it makes it Asia’s largest public holder of BTC. It also aligns the company with a growing cohort of global firms transitioning into Bitcoin treasury models. This is similar to MicroStrategy and, more recently, Strive Asset Management and GameStop.

Another Bond Issue, More Bitcoin

Image from Metaplanet

On May 9, Metaplanet’s board approved a new issuance of “0% Ordinary Bonds,” totalling 3.3 billion yen ($21.25 million). These bonds will be issued without interest and redeemed at face value on November 7, 2025. According to the company’s statement, 100% of the proceeds will go toward purchasing Bitcoin.

Zero-coupon bonds are typically issued at a discount and redeemed at full value upon maturity. This makes them efficient for companies to raise funds without recurring interest liabilities. Metaplanet’s strategic use of such bonds suggests a deliberate effort to minimise capital costs while scaling its crypto reserves.

The latest bond issue will be allocated to EVO Fund through the 14th Stock Acquisition Rights. Indeed, the latest deal indicates international investor confidence in Metaplanet’s crypto vision.

At Bitcoin’s price of $103,000, Metaplanet’s $21.25 million raise could allow the firm to purchase approximately 206 more BTC. This would bring its total holdings to nearly 5,761 BTC if fully deployed.

The new bond issue follows Metaplanet’s blockbuster announcement on May 7. They revealed a $53.4 million acquisition of 555 BTC at an average price of $96,134 per coin, bringing the firm’s total Bitcoin holdings to 5,555 BTC. The purchase cost a cumulative $481.5 million and an average purchase price of $86,672.

According to BitcoinTreasuries.net, Metaplanet is now the largest public corporate holder of Bitcoin in Asia. It ranks 11th globally. Its holdings place it in the league of other corporate heavyweights, including Tesla, Block Inc., and MicroStrategy.

Stock Price Soars as Market Responds

Investors have responded positively to Metaplanet’s Bitcoin-heavy pivot. According to Google Finance, its stock (3350T) has increased by more than 1,600% over the past year. It is currently trading at 511 Japanese yen (approximately $3.50). The price surge indicates growing investor enthusiasm around Bitcoin’s institutional adoption.

This growth is notable considering Japan’s historically cautious stance on crypto regulation.

Metaplanet’s ambitions don’t stop in Japan. On May 1, the company announced the formation of a wholly owned U.S. subsidiary, Metaplanet Treasury, based in Florida. The new entity is part of a strategy to raise $250 million in U.S. capital markets.

By expanding into the United States, Metaplanet aims to tap a larger pool of investors. They will also integrate with global capital markets. It also positions the firm to gain closer access to the heart of the digital asset ecosystem and aligns with its mission of becoming a Bitcoin-native capital allocator.

The Florida-based subsidiary is expected to spearhead future fundraising efforts, including potential equity and debt offerings. According to company insiders, the U.S. move enables Metaplanet to explore strategic partnerships with American firms engaged in blockchain infrastructure and Bitcoin custody.

Growing Institutional Momentum

Metaplanet’s rapid evolution mirrors a larger institutional trend. More companies are now considering Bitcoin as a treasury asset in response to concerns over inflation, devaluation, and the weakening purchasing power of fiat currencies.

On the same day Metaplanet announced its May 7 purchase, Strive Asset Management disclosed plans to convert into a Bitcoin treasury-focused company. Meanwhile, GameStop completed a $1.5 billion convertible debt sale on April 1, with a portion of the proceeds reportedly allocated for Bitcoin exposure.

MicroStrategy, under the leadership of Bitcoin advocate Michael Saylor, remains the most well-known corporate Bitcoin holder, with over 200,000 BTC. However, firms like Metaplanet are quickly catching up, demonstrating that institutional confidence in Bitcoin is far from an American phenomenon.

Metaplanet’s aggressive Bitcoin strategy represents more than just speculation; it’s a shift in corporate finance. By allocating capital into a provably scarce digital asset, the company is hedging against macroeconomic uncertainty and fiat depreciation while embracing a long-term vision of financial sovereignty.

The playbook is clear: use low-cost capital via zero-coupon bonds to accumulate Bitcoin during market consolidations while leveraging market enthusiasm to expand access to new investor classes and international funding. It’s a bold strategy that relies on conviction and timing.

With 5,555 BTC already on its books, Metaplanet is becoming very important. Whether its bet pays off long term will depend on market cycles, regulatory frameworks, and how deeply Bitcoin becomes embedded in the global financial system.