Metaplanet, a Tokyo-listed company often referred to as Japan's 'Strategy,' has issued $210 million in zero-interest ordinary bonds to the Cayman Islands-based Evo Fund to finance additional Bitcoin purchases. This marks the 18th bond series issued by Metaplanet and reflects the company's dedication to expanding its Bitcoin treasury holdings. The bonds mature in December 2025 with an option for early redemption.
Following the latest acquisition of 1,112 BTC at an average price of approximately $105,000 per Bitcoin, Metaplanet has reached a total holding of 10,000 BTC, six months ahead of its original 2025 target. The purchase was valued at around 16.88 billion yen (~$110 million). This milestone positions Metaplanet as Asia’s largest corporate Bitcoin holder and the eighth largest worldwide.
CEO Simon Gerovich emphasized the company's all-in Bitcoin strategy despite challenging economic conditions in Japan, including yen depreciation and high national debt. Metaplanet’s strategy is inspired by Michael Saylor-led entities, focusing on disciplined, long-term Bitcoin accumulation rather than speculative trading. The company recently increased its long-term target to 100,000 BTC by the end of 2026 and 210,000 BTC by 2027, which would represent approximately 1% of Bitcoin’s total supply.
Metaplanet’s growing Bitcoin yield—measured as Bitcoin held per fully diluted share—hit 87.2% in the current quarter, reflecting an aggressive accumulation approach supported by stock sales and bond financing. The firm remains committed to leveraging Bitcoin’s potential for long-term appreciation, reinforcing its bullish stance on the cryptocurrency amid global market uncertainties.