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- Metaplanet issues $50M in bonds to buy more Bitcoin.
- BTC holdings now exceed 7,800, surpassing El Salvador.
- Stock price jumps 15% following bond and BTC announcement.
Japanese investment firm Metaplanet Inc. has announced the issuance of $50 million in 0% ordinary bonds to fund its next round of Bitcoin purchases. The company, listed on the Tokyo Stock Exchange, confirmed the move in an official post, emphasizing its commitment to strengthening its Bitcoin treasury strategy.
This 16th Series of Ordinary Bonds was issued exclusively to EVO FUND, with a maturity date of November 27, 2025, and no interest payments attached. CEO Simon Gerovich reinforced the firm’s vision, stating, “$50 million more BTC incoming,” echoing confidence in long-term Bitcoin adoption.
BTC Holdings Rise to 7,800 as Firm Outpaces El Salvador
Following its most recent purchase of 1,004 BTC for $104.3 million in May, Metaplanet now holds an estimated 7,800 BTC. This puts the Japanese firm ahead of El Salvador, which currently owns 6,189.18 BTC.
The bond funds will further increase Metaplanet’s Bitcoin reserves, solidifying its position as one of Asia’s largest corporate holders of the cryptocurrency. The acquisition spree reflects growing interest from institutional investors as Japan faces one of its worst economic downturns in decades.
The market responded positively to the announcement, with Metaplanet’s stock price surging 15% to 1,116 JPY on the Tokyo Stock Exchange. Investor confidence appears to be tied closely to the firm’s Bitcoin acquisition strategy, with traditional investors now viewing Metaplanet as a vehicle for indirect BTC exposure.
With growing concerns about inflation and depreciation in the value of the Japanese yen, in the view of many, Bitcoin might be a more stable alternative. The firm’s explicit bias towards crypto has been one of the prime corporates to invest in the Japanese landscape.
In the Race for the Best Bitcoin Prowess: Following MicroStrategy
Metaplanet’s acquisition of BTC is sprung from the same act made by the U.S.-based MicroStrategy, who bought 4020 BTC for $427.1 million. However, in the world of Bitcoin holdings, MicroStrategy is the first with more than 580,250 BTC valued at $63.3 billion dollars.
However, with a slow yet steady climb, Metaplanet is thought to be competing for a spot in the crypto-finance industry. With the current Bitcoin price being $109,005, the Japanese firm’s timing looks promising.
In early 2024, Metaplanet officially pivoted to become Japan’s first dedicated Bitcoin Treasury Company. The company has already executed 87% of its ambitious two-year, ¥116 billion “moving-strike” warrant program hailed as Japan’s largest and most cost-effective equity financing structure.
This metamorphosis is reflective of a more general trend of companies turning toward Bitcoin as an instrument to hedge macroeconomic instability. Being one of the few firms currently sticking to a Bitcoin-first strategy, Metaplanet stays despite pressure from conventional markets.
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