- Metaplanet Inc. a Tokyo-based investment firm, is Asia’s largest publicly traded Bitcoin treasury firm.
- The company’s aggressive bitcoin accumulation has made it the 11th-largest public company by bitcoin holdings globally.
- In a May 28 announcement, the company said it was raising $50 million through bonds.
Japanese investment firm Metaplanet issued a statement to say they would be issuing a $50 million private placement of zero-interest bonds to be able to buy Bitcoin.
The company said the debt will be issued in $1.25 million denominations and will carry no interest payments.
This move is said to be part of its ongoing strategy to increase exposure to Bitcoin.
Cayman Islands-based Evo Fund will be the sole subscriber to the bond issuance.
Evo Fund is also Metaplanet’s key partner in its Bitcoin accumulation efforts. They have backed several rounds of similar zero-interest bonds to fund the company’s cryptocurrency purchases, in the past.
This issuance without guarantees or collateral suggests a high level of mutual trust, and thus highlights the close relationship between the two firms and Metaplanet’s continued confidence in Bitcoin’s long-term potential.
Long term plans investments
Metaplanet recently completed its second-largest Bitcoin purchase, acquiring 1,004 BTC valued at more than $100 million.
Their total Bitcoin holding currently stands at approximately 7,800 BTC, worth over $800 million.
According to data from BitcoinTreasuries.NET, Metaplanet’s Bitcoin portfolio has appreciated by nearly 20%.
Furthermore, the company’s aggressive move into Bitcoin comes amid a broader trend of firms exploring alternatives to traditional fiat-based treasury strategies.
