Japanese firm Metaplanet Inc. has raised $25.9 million (¥4 billion) through the issuance of zero-interest, unsecured bonds, seeking to expand its Bitcoin (BTC) holdings.
The Tokyo-based firm confirmed receiving funds from EVO FUND, the bondholder, which will be primarily used to increase its Bitcoin reserve to 21,000 BTC by 2026 in ‘Asia’s Largest Ever’ raise.
*Metaplanet Completes Raise of 4.0 Billion JPY in 0% Unsecured, Unguaranteed Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/9BIH6fmLqs
Metaplanet said it is adjusting its previous financial plans to ensure that the raised funds go directly into increasing its Bitcoin reserves, to hedge against economic uncertainties in Japan, including high debt and yen depreciation.
“The Company has strategically shifted its financial management approach to adopt Bitcoin as its primary reserve asset,” as per the February 13 announcement.
The bonds are a type of debt instrument where Metaplanet has borrowed money from investors without having to pay interest, with the understanding that they will repay the principal amount later.
In this case, the bonds will be redeemed by August 2025, with the company using the funds to purchase Bitcoin.
Metaplanet’s Bitcoin pivot
Metaplanet made a “strategic pivot” and embarked on its Bitcoin buying spree in April 2024, following in the footsteps of U.S. software firm MicroStrategy (which has since rebranded as Strategy)
As of January, Metaplanet holds 1,761.98 BTC, valued at approximately $186 million (¥27.9 billion), and plans to grow this amount to 10,000 BTC by the end of 2025.
MicroStrategy has big news—and no, it’s not another Bitcoin buy.
Instead, the software giant is changing its name to Strategy. Just… Strategy.
Company co-founder Michael Saylor trumpeted the news on Wednesday, arguing that by removing the prefix ‘Micro,’ the firm will be able to tap into a new era of success.
“Strategy is one of the most powerful and positive words in the human language,” Saylor said in a statement.
MicroStrategy Hit Pause on Its Bitcoin Buying—For Now
The Bitcoin bull then pr...
The company is reallocating funds, reducing its planned Bitcoin purchases from $723 million (¥111.3 billion) to $717 million (¥107.3 billion) through February 2027.
Metaplanet also intends to continue its Bitcoin income generation business, which is projected to run until December 2025.
This move comes after a highly successful year for Metaplanet, which has seen its market capitalization rise by 7,000% since adopting Bitcoin as a central part of its financial strategy.
The firm also reported an impressive 309.82% Bitcoin yield in Q4 of 2024, up 41.7% in the previous quarter.
Metaplanet will soon join the Morgan Stanley Capital International Japan Index (MSCI), effective February 28, 2025, giving the company more exposure to institutional investors worldwide.
The MSCI Japan Index tracks large and mid-cap stocks in Japan, and many funds and ETFs that follow this index will now automatically include Metaplanet, potentially boosting demand for its stock.
📢 Metaplanet Joins the MSCI Japan Index!
We’re excited to share that Metaplanet will be included in the MSCI Japan Index as of the close on February 28, 2025.
What is MSCI? MSCI (Morgan Stanley Capital International) is one of the world’s leading providers of stock market… pic.twitter.com/wt3hk7Ww4p
“This milestone further solidifies Metaplanet’s position as Asia’s leading Bitcoin Treasury Company and expands our reach in global markets,” Simon Gerovich, CEO of Metaplanet, tweeted on Wednesday.
“Our inclusion reflects the significant progress we’ve made in expanding our market presence and executing our Bitcoin strategy,” Gerovich wrote.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
The U.S. Securities and Exchange Commission has delayed its decision on in-kind redemptions for the Bitwise Bitcoin ETF Trust and Bitwise Ethereum ETF, according to a filing on Wednesday, the latest sign of U.S. regulators' restraint even as the political environment for crypto has improved.
The SEC will rule by September 8, according to the filing, and could at that point approve or deny the request, or elect to review the matter further, the document said.
“The Commission finds it appropriate...
The price of XRP hit a six-month high on Wednesday as notional open interest for the third largest cryptocurrency by market capitalization surged to record levels.
The Ripple-linked coin was recently trading hands around $3.05, a 5.1% increase over the past day, according to crypto data provider CoinGecko. The asset’s price has climbed as high as $3.31 within the past year, while soaring 420% over the same period.
Notional open interest for XRP perpetual futures, which reflects the amount of mon...
Cathie Wood's investment firm sold 225,742 shares of its ARK 21Shares Bitcoin ETF (ARKB) from its Next Generation Internet fund (ARKW) on Tuesday, according to the firm's daily trade notifications reviewed by Decrypt. The firm simultaneously sold 34,207 shares of Coinbase Global Inc.
“They may have been looking to capitalize on recent market momentum while reducing exposure ahead of the CPI release," Nansen Analyst Nicolai Sondergaard told Decrypt about potential motivations behind the sales.
“I...