Metaplanet Accelerates Bitcoin Acquisition With New $31M Bond Issuance

Metaplanet Inc. It plans to issue ¥5.0 billion ($31.9 million) in regular bonds to accelerate its Bitcoin purchases.

The company announced this on December 20, 2018, that the payment will be made using the 12th consecutive share acquisition rights.

Details of the 5th series of ordinary bonds

Metaplanet CEO Simon Jirovich said in a separate post that the funds from the offering will be used to advance the BTC acquisition, initially planned for 2025, until the end of 2024.

“These funds will accelerate bitcoin purchases originally planned for 2025 to this year.”

The bond issue totals ¥5 billion divided into ¥250 million units each. The offering carries no interest and is paid at interest rates, with each bond worth 100 yen at a principal amount of 100 yen. The proposed release date is December 20, 2024 and the maturity date is set for June 16, 2025.

The entire security will be assigned to the EVO FUND private investment institution and will be subject to redemption provisions. In addition, the bonds may be redeemed if EVO FUND gives at least one business day's prior written notice or if the proceeds from the exercise of the 12th Series Stock Acquisition Rights of the Tokyo-listed company reach a certain threshold.

This development follows Metaplanet's December 17, 2024 separate ¥4.5 billion ($28.7 million) bond issuance announcement on June 16, 2025. This means that in just a few days, the company has paid a total of ¥4.5 billion. 9.5 billion or about $60.6 million.

Bitcoin-centric approach

Metaplanet's bitcoin-centric approach is consistent with its strategic focus on taking the asset as a hedge against economic volatility. In June 2024, he acquired 23.351 BTC for approximately $1.6 million, then 42.4 BTC for $2.4 million, bringing his total holdings to 203.7 BTC.

The company continued to increase its holdings, buying 57.273 BTC for $3.4 million in October and 106.976 BTC for $6.6 million in October. In addition, he made a purchase of 156.7 BTC in October, worth $10.4 million.

In addition to its acquisition strategy, the Japanese investment firm recently established a new business line for Bitcoin treasury operations. This section focuses on buying, holding, and managing cryptocurrency through a variety of financial instruments, including loans, equity issuances, and convertible bonds.

According to BitcoinTreasuries, as of December 20, 2024, the outfit holds 1,142 BTC, worth an estimated $109.6 million. The stock traded at ¥3,575 a share, a 58.05% increase in the past month and a 2,134.38% increase year-to-date, according to Google Finance data.