- Metaplanet issues $21.25M bonds to fund Bitcoin strategy
- Tokyo firm becomes Asia’s largest public Bitcoin holder
- Metaplanet plans U.S. subsidiary to raise $250M for BTC
Metaplanet Inc., a Tokyo-based investment firm, continues to advance its aggressive BTC acquisition. The company intends to raise $21.25 million from a new bond sale to finance more purchases of Bitcoin. The bonds will not accrue interest and will be issued at a discount with the redemption period on November 9. This is the company’s third bond sale this week after two earlier $25 million issues.
The bond issuance supports Metaplanet’s plan to increase its BTC stockpile. The company currently holds 5,555 BTC worth $576 million, which positions the company as Asia’s largest public corporate holder of Bitcoin. The company is the 11th biggest corporate holder of BTC across the world. Metaplanet’s stock price saw over a 1,600% increase in the last 1 year, which indicates increased investor interest.
Metaplanet Follows MicroStrategy’s Bitcoin Playbook
On May 7, Metaplanet acquired 555 BTC for $53.4 million. The company aims to raise funds to purchase approximately 206 BTC through new bond issuance. The firm launched its BTC acquisition in late 2024. The company’s bond issuances are discounted and interest-free, which matches an approach often used by other corporate Bitcoin holders such as MicroStrategy.
The firm’s Bitcoin acquisition strategy is similar to that of U.S.-based MicroStrategy, which uses debt issuances to finance BTC purchases. Simon Gerovich, Metaplanet’s CEO, has expressed confidence in the company’s expansion roadmap. He recently mentioned that the firm intends to own 10,000 BTC by 2026. This objective solidifies Metaplanet’s position as a major player in the global BTC market.
Metaplanet Global Expansion
Metaplanet’s recent plans to raise funds are part of its plans to expand into the U.S. market. In May, the company announced plans to set up a subsidiary in Florida called Metaplanet Treasury. This step will enable Metaplanet to access US institutional investors and raise up to $250 million to boost its own BTC acquisition. The Florida-based firm will strengthen Metaplanet’s position in the extended U.S. market, which has witnessed increased Bitcoin innovation and corporate adoption.
Metaplanet’s ambitious BTC acquisition matches a prevalent trend in the cryptocurrency market. The increase in Bitcoin ETF inflows demonstrates increased institutional interest in BTC, with $5.13 billion in net inflows in the last three weeks. Metaplanet’s plans reflect its efforts to strengthen its position as a leader in the corporate Bitcoin treasury sphere.
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