Japan’s Metaplanet has issued its 10th Series of Ordinary Bonds to cover ¥2 billion ($13.33 million) to purchase more Bitcoins. The bonds, which were issued based on a filing made on March 31, have no coupons and will mature by September 30, 2025. The entire issuance has been assigned to EVO FUND.
The issuance comes as the firm has accumulated 3,350 BTC at an average purchasing price of $83,000 per Bitcoin. Metaplanet has adopted Bitcoin as its key asset in treasury management since 2024.
Metaplanet is Asia’s largest corporate Bitcoin holder
This latest purchase comes on the heels of another buy of 150 BTC on March 24 for ¥12.57 million, indicating a positive sentiment for the firm’s crypto balance sheet. The company recently purchased 40,000 Bitcoins for ¥42.2225 billion, which is equivalent to $270 million, making the company the largest corporate holder of Bitcoins in Asia.
The company’s Representative Director, Simon Gerovich, who oversaw the bond issuance, said on X, “Buying the dip!”
The company has also expressed interest in its Bitcoin Yield, which calculates the current BTC holdings divided by the fully diluted shares. The Bitcoin Yield in the fourth quarter of 2024 has gained 309.8%, and 68.3% in the first quarter of 2025.
Since initiating its Bitcoin strategy, the firm’s shares have risen by over 3,000%, a sign of investors’ confidence. The firm plans to acquire 10,000 BTC by 2025 and increase it to 21,000 BTC by the end of 2026.
Despite this bullish Bitcoin strategy, Metaplanet has dipped more than 9% to below ¥400 today. This is a decrease of 23% from the weekly average made earlier this March. The Japanese shares were down by more than 4% in the initial trading session on Monday. It should also be noted that the stock markets are responding to the new tariffs starting from April 2 in the US.
Leadership expansion adds firepower
In addition to strengthening its capital base, Metaplanet is expanding its management team. On March 21, the company created an advisory board and recruited Eric Trump as a member. With past experience in real estate and financial services, Trump is expected to add value to the firm’s developing strategy, which envisions itself as a leading Bitcoin treasury company.
Metaplanet is not the only one seeking to become the global leader in Bitcoin adoption. Marathon Digital, a mining company based in the United States, plans to sell its shares worth $2 billion to expand its Bitcoin purchasing.
US video game retailer GameStop has also experienced some loss in the Bitcoin integration, whereby its stock declined after the decision to launch the debt-for-BTC offer.
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