Metaplanet is issuing new zero-interest bonds worth $50 million to fund its latest Bitcoin buy after acquiring 40,177 BTC▼$63,879.00 by the end of March.
Tokyo-listed Metaplanet will issue new zero-interest bonds to continue purchasing Bitcoin. In an X post on Friday, April 24, the company said it will sell 8 billion yen worth of bonds, equivalent to $50 million, to purchase more BTC.
The finance the deal, the comapny will issue the zero-interest bonds. All of the bonds were subscribed to by EVO Fund, a known investor who previously participated in some of the company’s fundraising rounds.
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Track Record of Bitcoin Buy Strategy
This fundraising initiative will help the company build on its existing Bitcoin stash. As of March 31, 2024, Metaplanet has accumulated 40,177 BTC valued at around $3.1 billion.
The accumulation began in April 2024. At an average of $97,600 per BTC, this investment has experienced a 20% paper loss.
That places it third globally among corporate holders, according to data from BitcoinTreasuries. Only a small group sits above it, including Strategy and Twenty One Capital.
Metaplanet by the Numbers
But the aggressive buying also has a flip side. According to the firm’s regulatory filing, Metaplanet posted a $619 million net loss for fiscal 2025, though most of that came from unrealized losses as Bitcoin price fell.
On the stock side, the setup is also starting to look more like a Bitcoin proxy. Metaplanet trades under the ticker MPJPY with a market value of about $2 billion on a basic basis, and closer to $3 billion when fully diluted.
That’s roughly in line with the value of its Bitcoin holdings, depending on how it’s measured. The stock trades close to the value of the BTC on its balance sheet, with ratios hovering around 0.8 to 1.0.
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