In a recent good news for Bitcoin, Metaplanet Inc. has announced the issuance of its 10th series of ordinary bonds worth 2 billion Japanese yen (approximately $13.3 million) to fund additional Bitcoin purchases.
According to a notice dated March 31, 2025, the company’s board of directors approved the bond issuance to EVO FUND. The company also mentioned the purpose of allocating the proceeds to buy more Bitcoin.
This move continues Metaplanet’s aggressive Bitcoin acquisition strategy, which has already seen the company accumulate 3,350 BTC with an aggregate cost basis of 42.215 billion yen (approximately $281 million) as of March 24, 2025.
The company’s CEO Simon Gerovich suggested the timing was strategic with a simple tweet stating, “Buying The Dip.”
Metaplanet has shown a consistent pattern of Bitcoin acquisition over the past nine months. Its holdings have grown from 161.268 BTC on July 1, 2024, to 3,350 BTC by March 24, 2025.
The purchase history reveals a dollar-cost averaging approach as regular acquisitions are happening approximately weekly. The company’s average purchase price has fluctuated between 9,304,655 yen and 12,619,066 yen (approximately $62,000 to $84,000).
A considerable jump in Metaplanet’s acquisition pace can be seen in late October 2024. This was when the company’s holdings crossed the 1,000 BTC threshold. Since that milestone, the company has added over 2,300 additional BTC in just five months.
The company’s purchase table shows that between March 3 and March 24, 2025, Metaplanet added nearly 1,000 BTC to its holdings.
Zero-interest bond structure details
The 10th series of ordinary bonds issued by Metaplanet features several characteristics that support the company’s Bitcoin acquisition strategy.
According to the notice, these bonds will bear no interest, which is unusual for corporate debt instruments.
Each bond carries a face value of 50 million yen and has a total issuance amount of 2 billion yen. The bonds were issued and paid for on March 31, 2025, with a scheduled redemption date of September 30, 2025.
Additionally, Metaplanet has the option to redeem a portion of the bonds if the cumulative funds received from the exercise of its 14th to 17th series of stock acquisition rights reach multiples of 50 million yen.
Good Bitcoin News: Corporate Bitcoin treasury trend continues
Metaplanet’s Bitcoin strategy follows a pattern followed by several public companies that have added Bitcoin to their corporate treasuries. Such kind of an institutional adoption for BTC is a good news for Bitcoin.
The company’s approach of using debt instruments specifically to fund Bitcoin purchases places it among a growing number of firms taking similar actions.
The company began its Bitcoin accumulation in July 2024 with a modest 161.268 BTC position valued at 1.65 billion yen.
By December 2024, this position had grown to 1,761.98 BTC worth 20.872 billion yen. The acceleration continued into 2025 and the holdings have doubled again to the current 3,350 BTC.
What makes Metaplanet’s approach different is the outright labeling of its debt issuance as being for Bitcoin purchases.
While many companies maintain some secrecy about the specific use of proceeds, Metaplanet’s bond notice clearly states that “the funds raised through this issuance will be allocated for the purchase of Bitcoin.”