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Japanese investment firm Metaplanet Inc. is doubling down on its Bitcoin strategy, issuing yet another round of bonds to fund crypto purchases—bringing it within reach of a major milestone. The company revealed it sold $21 million in zero-interest bonds to Cayman Islands-based EVO FUND, pushing its total Bitcoin holdings to approximately 7,800 BTC, or 78% of its 10,000 BTC target for 2025.
Bond-Fueled Bitcoin Buying Spree
In a public notice issued Thursday, Metaplanet reveal the bond sale, its 17th issuance this year, as part of a broader effort to become one of the largest corporate Bitcoin holders globally. The strategy hinges on raising capital via bonds—debt instruments that allow the company to access large sums of money without giving up equity or paying interest, at least until maturity.
Unlike traditional loans or high-yield debt, these zero-interest bonds offer flexibility for both the issuer and investor. Under the terms, EVO FUND can request early repayment with just five days’ notice, making it an attractive and low-risk arrangement for the fund while allowing Metaplanet to maintain liquidity and focus on its aggressive Bitcoin accumulation strategy.
The bonds mature on November 28, 2025, at which point Metaplanet is expected to repay the full $21 million unless earlier redemption is requested.
A Proven Playbook Inspired by MicroStrategy
Metaplanet’s approach mirrors that of MicroStrategy (now Strategy), the U.S.-based tech firm that pioneered debt-financed Bitcoin accumulation. By strategically leveraging corporate bonds and other financial tools, both companies are rewriting how businesses engage with digital assets.
Throughout 2025, Metaplanet has raised approximately $135 million in debt, specifically earmarked for Bitcoin purchases. Prior bond sales included:
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$25.9 million in February
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$13.3 million in March
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$25 million earlier this month
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$50 million through another notice just days ago
This creative financing model has enabled the Tokyo-listed firm to increase its Bitcoin exposure rapidly while maintaining operational stability.
Metaplanet’s Growing Bitcoin War Chest
Metaplanet’s current Bitcoin holdings—7,800 BTC—are worth an estimated $840 million at present market prices, based on an average acquisition cost of $91,340 per coin. This massive stash places the company at 11th on the list of global corporate Bitcoin holders, according to Bitcoin Treasuries data.
The company has made regular, large-scale purchases throughout the year, including:
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696 BTC acquired in March via cash-secured put options
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145 BTC bought in April for $13.6 million
Metaplanet has made it clear that Bitcoin is not just a side investment—it is central to the firm’s financial vision and long-term strategy.
Expanding Horizons: Metaplanet Eyes U.S. Growth
In addition to buying more Bitcoin, Metaplanet is expanding its operations into the U.S. market. Earlier this month, the company reveal plans to establish a wholly-owned subsidiary in Florida—a move aimed at tapping into American institutional investor networks and ensuring round-the-clock global operations.
The new entity, Metaplanet Treasury Corp., will play a vital role in helping the company achieve its ambitious $250 million fundraising goal, which will further bolster its Bitcoin reserves.
Florida was chosen strategically, as the state is rapidly emerging as a hub for Bitcoin adoption and blockchain innovation, making it an ideal for Metaplanet’s expansion.
Eric Trump Joins Metaplanet’s Strategic Advisory Board
In a high-profile move that caught headlines earlier this year, Metaplanet appointed Eric Trump, son of former U.S. President Donald Trump, to its newly formed Strategic Advisory Board. The appointment was made in recognition of Trump’s “business expertise and passion for Bitcoin,” according to the company.
Metaplanet stated that his addition marks a significant step in its mission to drive global Bitcoin adoption and cement its status as a leader in the digital asset economy.
While the appointment stirred some debate, it undeniably boosted visibility for the company’s Bitcoin-forward agenda.
What’s Next for Metaplanet?
With 78% of its 2025 goal already met, Metaplanet is well on its way to securing a 10,000 BTC treasury. The company’s financial strategy—marked by frequent, flexible bond issuances and careful market timing—has positioned it as one of the most aggressive corporate buyers of Bitcoin in the world.
Should it continue on its current trajectory, Metaplanet is likely to reach or surpass its 10,000 BTC goal well before the end of 2025.
The firm’s actions also point to a broader trend: corporate adoption of Bitcoin as a treasury reserve asset is gaining momentum. As companies like Metaplanet refine their playbooks, others may follow, potentially reshaping the financial landscape over the coming years.
Final Thoughts
Metaplanet’s latest bond issuance reinforces its unwavering commitment to Bitcoin. By leveraging debt intelligently and making bold strategic moves, the company is not only increasing its crypto holdings but also setting a new precedent for corporate participation in the digital economy.
With the U.S. expansion, a growing war chest, and high-profile advisory appointments, Metaplanet is emerging as a major player in the Bitcoin ecosystem—and its story is far from over.
