Metaplanet Accelerates Bitcoin Acquisition With New $31M Bond Issuance

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

The company announced this in a post on December 20 on X, adding that the repayment will be made from the exercise of its 12th series stock acquisition rights.

Information on the 5th Series of Common Bonds

In a separate post, Metaplanet CEO Simon Gerovich said the proceeds from the offering will be used to advance BTC purchases originally planned for 2025 to the end of 2024.

“This money will advance Bitcoin purchases originally planned for 2025 into this year.”

The bond issuance consists of a total of ¥5 billion, divided into units of ¥250 million each. The offering will bear no interest and will be redeemed at face value, with each bond worth 100 yen per 100 yen principal amount. The scheduled issuance date is December 20, 2024, and the maturity date is set for June 16, 2025.

The entire security will be assigned to EVO FUND, a private investment group, and will be subject to redemption provisions. In addition, the bonds can be redeemed early if EVO FUND gives written notice at least one business day in advance or if proceeds from exercising stock acquisition rights of the 12th series of Tokyo listed company reach a certain level.

This development follows Metaplanet's announcement on December 17, 2024, of a separate ¥4.5 billion ($28.7 million) bond issue that will mature on June 16, 2025. It means that in a few days, no the company raised a total of ¥. 9.5 billion, or about $60.6 million.

A Bitcoin based approach

Metaplanet's Bitcoin-based approach aligns with its strategic focus on adopting the asset as a hedge against economic volatility. In June 2024, he received 23.351 BTC for about $1.6 million, followed by 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 and 106,976 BTC worth $6.6 million in October. In addition, he made a large purchase of 156.7 BTC in October, worth $10.4 million.

In addition to its acquisition strategy, the Japanese investment company recently established a new Bitcoin financial operations business line. This division focuses on the purchase, holding, and management of digital currency through various financial instruments, including loans, equity issuance, and convertible bonds.

According to BitcoinTreasuries data, as of December 20, 2024, the outfit holds 1,142 BTC, with a value of approximately $109.6 million. Its stock has also seen impressive growth, with shares trading at ¥3,575, representing a 58.05% increase in the past month and a 2,134.38% year-to-date increase, based on data from Google Finance .