Metaplanet Issues $31M Bonds To Accelerate 2025 Bitcoin Plans To 2024

Metaplanet Inc. announced a ¥5 billion ($31.9M) bond issuance to expedite Bitcoin purchases initially planned for 2025, bolstering its Bitcoin-centric investment strategy.

Metaplanet Inc., a Japanese investment firm known for its Bitcoin-centric approach, has unveiled plans to issue ¥5 billion ($31.9 million) in ordinary bonds to accelerate its Bitcoin acquisition timeline. The company aims to bring forward Bitcoin purchases originally scheduled for 2025 to the current year.

In a post shared on December 20 via X, Metaplanet CEO Simon Gerovich stated that the funds raised will be directed toward acquiring Bitcoin faster than initially planned.

“These funds will accelerate Bitcoin purchases originally planned for 2025 into the current year,” Gerovich said.

The ¥5 billion bond issuance is divided into units of ¥250 million each, carrying no interest and redeemable at face value. The bonds are scheduled for issuance on December 20, 2024, with a maturity date of June 16, 2025. EVO FUND, a private investment entity, will acquire the entire issuance. The bonds are subject to early redemption if EVO FUND provides written notice or if Metaplanet reaches a specified funding threshold through the exercise of its 12th series stock acquisition rights.

This follows another recent ¥4.5 billion ($28.7 million) bond issuance announced on December 17, bringing Metaplanet’s total fundraising in just a few days to ¥9.5 billion ($60.6 million).

Metaplanet has been steadily increasing its Bitcoin holdings throughout 2024. In June, it acquired 23.351 BTC for $1.6 million, followed by additional purchases totaling over 350 BTC by October. Its most significant purchase to date occurred in October when the firm acquired 156.7 BTC for $10.4 million.

The company’s strategic focus on Bitcoin includes a newly established treasury operations division, which handles Bitcoin purchases, holdings, and management through diverse financial instruments such as loans and equity issuances.

As of December 20, Metaplanet holds 1,142 BTC, valued at approximately $109.6 million, according to BitcoinTreasuries. Its stock has also experienced extraordinary growth, with shares trading at ¥3,575, reflecting a 58% increase in the past month and a staggering 2,134% year-to-date gain, per Google Finance data.

This aggressive Bitcoin strategy aligns with Metaplanet’s long-term vision of leveraging the cryptocurrency as a hedge against economic instability, further cementing its position as a leader in Bitcoin adoption within the financial sector.

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