Metaplanet Raises $60 Million to Fast-Track Bitcoin Purchases

Metaplanet, a Japanese investment firm, recently secured 9.5 billion yen (about $60.6 million) through two bond issues to speed up its Bitcoin acquisition strategy.

The company issued bonds worth 5 billion yen ($31.9 million) and 4.5 billion yen ($28.7 million), both with zero interest rates and due for repayment by June 16, 2025.

The funds raised will help Metaplanet bring forward its planned Bitcoin purchases originally set for 2025. CEO Simon Gerovich shared the news on social media, revealing that the company intends to accelerate its Bitcoin strategy in the current year.

Since announcing its decision to adopt Bitcoin as a key reserve asset in May, Metaplanet has steadily increased its holdings. As of mid-December, the firm owned approximately 1.14 million BTC, valued at roughly $110.3 million at current prices.

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However, Metaplanet’s stock on the Tokyo Stock Exchange saw a drop of 4.24%, closing at 3,610 yen, despite a remarkable 2,023% increase in year-to-date performance. The firm also began trading on the U.S. OTCQX market, where its shares fell by nearly 10% on their debut.

Metaplanet’s strategy mirrors the Bitcoin-focused approach of other public companies like MicroStrategy, which holds the largest institutional Bitcoin reserve. By using bond funding to fuel its Bitcoin purchases, Metaplanet is part of a growing trend where traditional financial firms are incorporating Bitcoin into their long-term strategies.

Kosta Gushterov