Metaplanet Issues $21M Bonds to Boost BTC Holdings

Japanese investment firm Metaplanet has announced the issuance of ¥3 billion (approximately $21 million) in bonds, with proceeds earmarked for buying Bitcoin (BTC).

Overview

On May 29 2025, the 17th bond series was issued and has a face value of $525,000 per bond set to mature on November 28 2025. Unlike conventional debt instruments, these bonds carry zero interest, enabling Metaplanet to raise funds without incurring extra repayment obligations. The move comes just one day after the company revealed a successful ¥7.8 billion (roughly $50 million) capital raise through share issuance. The bond issuance marks another bold step in Metaplanet’s ongoing strategy to increase its BTC holdings amid growing institutional interest in digital assets.

In an official statement on May 28, Metaplanet said it had approved the allocation of unsecured corporate bonds set to mature in 2025. The offering, underwritten entirely by a single buyer, shows strong investor confidence in the firm’s BTC-focused direction. The company stated that the capital would be used

“exclusively”

to expand its digital asset reserves, reinforcing its commitment to BTC as a treasury asset.

Strategic Shift Echoes MicroStrategy’s Bitcoin Playbook

Metaplanet has been increasingly likened to US-based software firm MicroStrategy, which pioneered the trend of public companies holding BTC on their balance sheets. Since first purchasing BTC earlier this year, Metaplanet has signalled that digital assets—particularly BTC—will play a central role in its corporate strategy. This week’s dual moves—a substantial equity raise followed by a bond issuance—underline its aggressive expansion into the BTC space.

The company’s BTC-first approach is particularly notable in Japan, a country with historically conservative investment norms. By contrast, Metaplanet’s strategy represents a forward-thinking bet on digital assets as both a store of value and a hedge against fiat currency risks. The firm has cited global economic uncertainty, inflation, and Japan’s long-standing low-interest environment as driving factors behind its BTC pivot.

Institutional Bitcoin Demand Gains Momentum

Metaplanet’s recent activity reflects broader market trends, where institutional adoption of BTC is gaining momentum worldwide. With the growing acceptance of Bitcoin ETFs in the US and favourable regulatory developments in several Asian markets, firms are increasingly exploring BTC as a strategic reserve asset. Analysts note that Metaplanet’s actions could encourage other Japanese companies to consider similar strategies, potentially accelerating BTC adoption in Asia.

Depending on the market price at the time of acquisition, Metaplanet’s latest BTC purchases could also place it among the top publicly traded firms holding BTC. While exact purchase dates and amounts have yet to be disclosed, Metaplanet has consistently stated its intention to build a significant BTC position.

Metaplanet’s $21 million bond issuance signals a precise and calculated expansion of its Bitcoin holdings just a day after raising $50 million via equity. As traditional finance intersects with crypto, Metaplanet appears poised to become a leading voice in Asia’s growing digital asset ecosystem.