Japanese Firm Metaplanet Expands Bitcoin Holdings with $11M Bond Issuance

A Japanese company, Metaplanet, has unveiled plans to issue another set of one-year bonds to fund its continued Bitcoin acquisitions.

The move, reminiscent of MicroStrategy’s aggressive Bitcoin strategy, has been part of Metaplanet’s efforts to expand its cryptocurrency reserves since May 2024. Following this announcement, the firm’s stock briefly climbed above the 2,000 JPY mark on Monday before facing resistance.

The latest bond issuance amounts to ¥1.75 billion (approximately $11.3 million) with a 0.36% annual coupon rate. Proceeds will be allocated to increasing the company’s Bitcoin holdings, which already exceed 1,000 BTC.

This strategic approach also includes leveraging Bitcoin options to optimize their portfolio, a tactic that contributed to an impressive 155% yield on their Bitcoin investments in the last quarter.

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With Bitcoin prices hovering near $90,000, Metaplanet is set to add around 122 more BTC to its reserves through this initiative. This ongoing expansion reflects the firm’s belief in Bitcoin as a valuable asset and its commitment to integrating cryptocurrency into its broader financial strategy.

Alexander Zdravkov