Metaplanet, a Tokyo-listed investment firm, has issued $25 million in bonds to fund additional purchases of Bitcoin. The bonds, sold to EVO FUND, mature in October 2025 and are structured as zero-interest instruments.
This initiative is part of Metaplanet's aggressive strategy to increase its Bitcoin holdings, aiming for a target of 10,000 BTC by the end of 2025. The company’s approach closely follows MicroStrategy’s model of using bonds to acquire Bitcoin, which has previously resulted in substantial gains for MicroStrategy’s stock value.
The issuance has drawn market attention due to its scale and the explicit allocation of proceeds for Bitcoin purchases. As a result of this strategy, Metaplanet’s stock price has surged over 1,428%. The move is seen as a potential catalyst encouraging other companies to consider similar strategies, further impacting both corporate treasury practices and the broader Bitcoin market.