Metaplanet’s Aggressive Bitcoin Strategy: $21M Bond Issue Follows $50M Raise
Japanese investment firm Metaplanet continues its ambitious Bitcoin accumulation, issuing another $21 million in zero-interest bonds just one day after securing a separate $50 million investment. This rapid-fire fundraising fuels Metaplanet’s drive to reach its 10,000 BTC target by 2025.
These latest bonds, the 17th series, were issued to Evo Fund, a Cayman Islands-based investment firm. Each bond carries a face value of $525,000 and matures on November 28, 2025. The zero-interest structure minimizes Metaplanet’s repayment burden, allowing for maximum Bitcoin acquisition.
Evo Fund has the option for early redemption with a five-business-day notice, enabling partial or full redemption in multiples of $525,000. Redemptions might also be triggered by Metaplanet based on future funding rounds involving Evo Fund, dependent on cumulative payments.
Importantly, these bonds are unsecured and lack a bond administrator, adhering to Japanese corporate law. Payment processing will be handled through Metaplanet’s Tokyo office.
Metaplanet’s 2025 Bitcoin Accumulation Goal
Metaplanet’s aggressive debt financing strategy for Bitcoin purchases is evident in its recent fundraising activities: $25.9 million in February, $13.3 million in March, $25 million in early May, and now, a combined $71 million in late May. This year alone, Metaplanet has raised $135.2 million, significantly advancing its ambitious Bitcoin acquisition plan.
Currently holding approximately 7,800 BTC (placing them among the top 11 corporate Bitcoin holders), their holdings are valued at around $840 million, resulting in an average purchase price of approximately $91,340 per Bitcoin.
Expansion into the US Market
Metaplanet’s strategic moves extend beyond Bitcoin acquisition. In May, they announced plans to establish a US subsidiary, Metaplanet Treasury, in Florida, aiming to raise up to $250 million to further its Bitcoin strategy and access US capital markets.
The company’s growth is further highlighted by the addition of Eric Trump to its Strategic Advisory Board, signaling its ambition and reach within the financial landscape.
Metaplanet’s bold strategy aligns with the growing trend of corporate Bitcoin adoption. The recent news of GameStop’s first Bitcoin purchase underscores the increasing acceptance of Bitcoin as a strategic asset among major corporations.