Japanese investment firm Metaplanet Inc. has raised $60.6 million (9.5 billion yen) through two bond issuances to bolster its bitcoin (BTC) holdings.
Metaplanet Completes $60.6 Million Bond Issuance for Bitcoin Purchases
The Tokyo-based company announced the completion of its fifth bond series issuance on Dec. 20, raising 5 billion yen. This follows a previous tranche completed earlier this week for an additional 4.5 billion yen. Both issuances were privately placed and fully subscribed by EVO Fund, the designated bondholder. The bonds carry no interest and are scheduled for redemption by mid-2025.
Metaplanet stated that the funds from the issuance will be allocated exclusively to purchasing bitcoin as part of its strategy to position BTC as a core treasury asset. The company views this strategic pivot as a long-term effort to enhance shareholder value through bitcoin accumulation.
Founded in 1999, Metaplanet operates primarily in hotel development, managing the Royal Oak Hotel in Shiga Prefecture. In recent years, it has diversified into real estate and investments, with a notable focus on integrated resorts and Web3 technologies. This strategic realignment highlights the company’s commitment to adopting bitcoin as a reserve asset and assisting other organizations in similar transitions through consulting services.
Despite the sizable bond issuances, Metaplanet assured investors that the financial impact on its 2024 consolidated results is expected to be minimal. The company also highlighted its plan to secure bond redemptions via stock acquisition rights agreements. The Japanese company’s shares, however, are down more than 8% over the past five days.
Although, shares are up 53% higher against the U.S. dollar this month. Metaplanet’s move highlights the growing trend of corporations embracing bitcoin for treasury management and reflects its broader commitment to Web3 innovation.
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