Metaplanet Doubles Down on Bitcoin With ¥1.75 Billion Bond Issuance
Metaplanet is a bold player in the Japanese investment scene that is making waves. With 1,018 Bitcoins worth $92.18 million, it is currently the second-largest corporate Bitcoin holder in Asia. That’s 0.005% of the total Bitcoin supply – quite impressive. But why invest so much money in such a volatile asset? The answer lies in Japan’s economic woes. A weak yen, high government debt and low interest rates have forced companies to get creative. For Metaplanet, Bitcoin is more than just an asset, it’s a shield against economic uncertainty. Since April 2024, the company has used Bitcoin as its main financial reserve.
This is not an overnight move. In April, Metaplanet purchased the first tranche of 117.7 BTC for $7.19 million. A few months later, it borrowed $6.8 million from MMXX Ventures to continue the acquisition. The momentum didn’t stop there. In October, the company purchased an additional 156 Bitcoins for $10 million. Bitcoin now accounts for nearly 19% of Metaplanet’s total market capitalization. This is not just a strategy, it is a commitment.
1.75 billion yen bond
Today, Metaplanet is picking up the pace. It announced a 1.75 billion yen ($11.8 million) bond issuance at an ultra-low interest rate of 0.36%. Target? Buy more Bitcoin. Each bond was acquired by EVO FUND, demonstrating investor support for this risky but exciting plan.
According to Metaplanet’s announcement document, there is no direct collateral for this bond issuance. However, they have taken a priority mortgage on the land and buildings of the Royal Oak Gotanda Hotel under a guarantee contract. The hotel is owned by Wen Tokyo Inc., a subsidiary of Metaplanet.
what to expect
Metaplanet’s Bitcoin journey is far from over. Will its growing reserves help the company cope with Japan’s economic challenges, or will market volatility derail that plan?
Metaplanet is betting big on Bitcoin right now, and the stakes couldn’t be higher. Win or lose, one thing is clear: this is a story worth watching.
