Japan’s Metaplanet raises capital via bonds as it targets 10,000 BTC in 2025

• Metaplanet has issued $21M in zero-interest bonds to expand its Bitcoin holdings
• Firm now holds more BTC than El Salvador, nearing its 10,000 BTC target.

Japanese investment firm Metaplanet has taken another bold step towards expanding its Bitcoin [BTC] treasury.

Metaplanet’s new Bitcoin plan

On 29 May, the company revealed its decision to issue zero-interest bonds worth $21 million to EVO FUND, a Cayman Islands-based investment entity.

The move is in line with Metaplanet’s broader ambition to become one of the world’s largest corporate holders of Bitcoin.

According to the issuance notice, the firm may redeem bonds at face value depending on EVO FUND’s future contributions, signaling a deeper commitment towards accumulating the digital asset.

For those unaware, Metaplanet’s bond issuance functions much like a short-term, interest-free loan, with repayment due by 28 November.

This structure will enable the company to access capital without incurring added interest costs.

How is EVO FUND beneficial?

Notably, EVO FUND can exercise the right to early redemption by giving five business days notice, redeeming bonds in full or in $525,000 increments. Additionally, Metaplanet may also initiate bond redemptions based on future fundraising activity with EVO FUND, depending on the total capital raised.

As per updates, the bonds carry no collateral or guarantees. And, Metaplanet has not appointed a bond administrator, following Japanese corporate regulations.

For perspective, Metaplanet’s Tokyo office will be managing all payment processes.

Metaplanet’s Bitcoin holdings

With this step, Metaplanet aims to accumulate 10,000 BTC by the end of 2025, and its recent fundraising efforts are bringing it closer to that goal.

Metaplanet currently owns approximately 7,800 BTC, ranking it 11th among the largest corporate Bitcoin holders worldwide, as reported by BitcoinTreasuries.NET. Its current stash is now valued at nearly $840 million, with an average acquisition cost of $91,340 per BTC.

Metaplanet surpasses El Salvador’s Bitcoin holdings

With such rapid accumulation, Metaplanet has now overtaken El Salvador’s Bitcoin holdings, with the latter currently valued at around $642 million, according to Bitcoin Office data.

Here, it is worth noting that El Salvador began accumulating Bitcoin in 2021. However, Metaplanet entered the space just last year, making its rapid growth even more striking.

This also paints a picture of how the Japanese firm, known as “Asia’s MicroStrategy,” has actively adopted the Bitcoin-focused strategy pioneered by Michael Saylor’s Strategy.

As Metaplanet scales its crypto reserves, it strengthens its position as a serious contender in the corporate Bitcoin race.