Japanese bitcoin treasury agency Metaplanet has issued 8 billion yen — roughly $50 million — in zero-interest odd bonds to fund additional bitcoin purchases, marking the corporate’s twentieth bond issuance.
One other spherical of debt-fueled accumulation
The whole providing was taken up by EVO Fund, a Cayman Islands-based investor that has repeatedly anchored Metaplanet’s earlier bond rounds.
The transfer underscores the agency’s long-running technique of tapping debt markets to develop its bitcoin stack, a playbook it has adopted constantly since April 2024.
Metaplanet added 5,075 BTC within the first quarter of 2025 alone, bringing its complete holdings to 40,177 BTC and cementing its place as Japan’s largest company bitcoin holder and the third-largest listed bitcoin treasury globally.
Deep losses, no slowdown
The aggressive accumulation has come at a price on paper.
Metaplanet reported a $619 million internet loss for fiscal 2025, largely pushed by unrealized markdowns on its bitcoin holdings as the worth pulled again from its October 2025 all-time excessive close to $126,000.
Bitcoin is presently buying and selling round $77,800, nonetheless up roughly 10% over the previous month as danger sentiment has stabilized following geopolitical shocks within the Center East.
Scale and technique
Metaplanet’s method mirrors that of Technique, which pioneered the company bitcoin treasury mannequin.
With 40,177 BTC on its steadiness sheet, Metaplanet now ranks among the many most important publicly listed holders of bitcoin wherever on the planet, sitting behind solely a handful of corporations in complete holdings tracked throughout the bitcoin treasury panorama.