Metaplanet issued 2 billion yen ($13.3 million) through zero bonds to increase its Bitcoin holdings.
According to the company's announcement, the bonds will be approved on March 12th and will mature on September 11th, 2025. The funds raised will be used to buy more Bitcoin (BTC), but repayments are expected to come from the exercise of Metaplanet's 14th-17th series share acquisition rights.
Bonds allow for early redemption. Metaplanet can repay it at face value if it secures sufficient funds from its share acquisition rights. Additionally, bondholders can request early redemption with advance notice. Collateral and guarantees are not included in this issue.
Metaplanet has been gradually growing Bitcoin Holding since adopting a Bitcoin-centric strategy in 2023. Metaplanet's approach is similar to the strategy (previously micro-strategic) approach that employs comparable debt procurement models. The company is taking advantage of Japan's low borrowing costs to build a Bitcoin reserve, establishing its position as a leading Asian company BTC owner.
As of the latest Bitcoin purchase on March 5, Metaplanet owned 2,888 BTC, recently surpassing Chinese gaming company Boyaa Interactive International as Asia's largest Bitcoin holder. It currently holds the 12th position among corporate Bitcoin holders around the world.
The overall investment is 364.4 billion yen ($242 million), and the company's average purchase price of BTC is 12.62 million yen ($84,000) per BTC. Metaplanet aims to reach 21,000 BTC and 10,000 BTC by the end of 2026 by the end of 2026. Until January 1st, until March 5th, 2025, it was a measurement of Bitcoin per share fully diluted, reaching 45.1% after an increase of 309.8% in the fourth quarter of 2024.
As more institutions accept Bitcoin and supply becomes more limited, Metaplanet's approach reflects an increasing trend in companies using cutting-edge financial products to increase their exposure to digital assets.
