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Japanese investment company Metaplanet is intensifying its Bitcoin accumulation strategy with the issuance of $21 million in zero-interest bonds, marking the latest move in a series of aggressive fundraising efforts aimed at expanding its cryptocurrency holdings.
This issuance follows closely on the heels of a $50 million bond raise, bringing Metaplanet’s total capital raised in 2025 to over $135 million, which the company is deploying to purchase Bitcoin as it aims to hold 10,000 BTC by year-end.
The 17th series of zero-interest ordinary bonds, issued on May 29, 2025, carries a face value of $525,000 per bond and matures on November 28, 2025. Unlike conventional bonds, these zero-coupon instruments allow Metaplanet to borrow funds without paying interest, lowering financing costs while maintaining flexibility in capital allocation.
The bonds were fully subscribed by Evo Fund, a Cayman Islands-based investment firm that has consistently backed Metaplanet’s Bitcoin acquisition plan.
Evo Fund holds the right to early redemption of these bonds with a five-business-day notice, which may be exercised in full or partial multiples of $525,000. The bonds are unsecured, with no collateral or guarantee attached, a testament to the strong trust between the parties and in Metaplanet’s business model.
Under Japanese corporate law, no bond administrator was appointed, and the Tokyo office serves as the payment location.
According to BitcoinTreasuries.NET, currently Metaplanet holds approximately 7,800 BTC, valued at roughly $840 million, placing it 11th globally among corporate Bitcoin holders. The company’s average acquisition cost stands at $91,340 per BTC, reflecting a well-timed and disciplined buying strategy amid market fluctuations.
Metaplanet has actively diversified its acquisition methods beyond direct purchases. In March 2025, it acquired 696 BTC via the exercise of cash-secured put options and premiums from selling these contracts, an approach that blends derivatives trading with strategic accumulation.
This was followed by another 145 BTC purchase for $13.6 million just before the end of April.
With its recent bond issues and capital raises, Metaplanet is now approximately 78% toward its ambitious goal of holding 10,000 BTC by the end of 2025.
Also Read: Metaplanet’s Bitcoin Play: How A Japanese Firm Is Leading Asia’s Crypto Charge
Recognizing the importance of the U.S. institutional market, Metaplanet announced plans on May 1, 2025, to establish a solely owned subsidiary, Metaplanet Treasury, headquartered in Florida. This entity is set to raise to $250 million, targeting the vast U.S. capital markets and expanding Metaplanet’s institutional investor base.
The subsidiary will enable Metaplanet to operate across multiple time zones with a 24-hour market presence, leveraging Florida’s strategic location and regulatory environment. This expansion signals the company’s ambition to cement itself as a global leader in Bitcoin treasury management.
Metaplanet’s stock has mirrored its corporate growth, soaring by nearly 1,985% over the past year and currently trading around 1,140 Japanese yen ($7.86). The company recently crossed a $5 billion market capitalization milestone, fueled by daily trading volumes exceeding $1 billion.
CEO Simon Gerovich shared this momentum on social media, expressing bullish sentiment with the phrase “Bitcoin to the moon.”
The firm’s consistent capital raising through zero-interest bonds underscores a novel approach to integrating traditional financial instruments with crypto asset accumulation, minimizing borrowing costs while fueling rapid Bitcoin acquisition.
Investor confidence appears robust, as evidenced by the complete subscription of bond issuances and active participation by prominent investment entities, such as Evo Fund. Such backing validates Metaplanet’s strategy and highlights institutional interest in cryptocurrency exposure through innovative financing structures.
Metaplanet’s recent $21 million zero-interest bond issuance, coupled with a prior $50 million raise, reflects an aggressive and well-executed strategy to accumulate Bitcoin. Through combining traditional capital market tools with sophisticated derivatives strategies and international expansion, Metaplanet is rapidly advancing toward its target of holding 10,000 BTC by the end of 2025.
By bridging traditional finance with blockchain innovation, Metaplanet not only enhances its competitive position but also sets a global example for corporate Bitcoin treasury management. As it expands into U.S. markets and continues to attract institutional investment, the company is well-positioned to capitalize on the growing mainstream adoption of cryptocurrencies.
Also Read: Why GameStop Is Betting on Bitcoin and What It Means for Investors
