Metaplanet Issues $21 Million Bond to Continue Bitcoin Accumulation: 'Japan's MicroStrategy' Expands Digital Treasury
Japan-based investment firm Metaplanet has announced plans to issue another $21.25 million in bonds, with the sole purpose of buying more Bitcoin (BTC) for its ever-expanding treasury. According to Cointelegraph, all proceeds will be used to finance further Bitcoin purchases, via zero-coupon bonds ("Zero Coupon Bonds").
Metaplanet and its Lightning BTC Acquisition Strategy
This latest announcement comes just days after Metaplanet revealed its purchase of 555 BTC worth approximately $53.4 million on May 7, 2025. This transaction brought the company's total Bitcoin holdings to 5,555 BTC, officially making Metaplanet the largest Bitcoin holding company in Asia, and the 11th largest globally according to BitcoinTreasuries.net's rankings.
Metaplanet's BTC buying strategy started in April 2024, and after just over a year, they have spent a total of $481.5 million, with an average price of about $86,672/BTC. With the current accumulation rate, Metaplanet is being compared by the community as "the Japanese version of MicroStrategy" - the famous American corporation that pioneered the trend of converting treasury to Bitcoin.
Global Expansion Plan and 21 Million BTC Vision
Not stopping in Japan, Metaplanet is preparing to open a subsidiary in Florida, USA, called Metaplanet Treasury Corp. According to The Block, this subsidiary will be initially injected with $10 million, and plans to raise up to $250 million to continue expanding its BTC storage strategy on a global scale.
Notably, the company has announced a long-term vision with the goal of owning 10,000 BTC by the end of 2025 and 21,000 BTC by 2026 - a symbolic number corresponding to the maximum total supply of Bitcoin. To realize the "21 Million Plan", Metaplanet plans to issue 21 million shares through warrants, raising about $745 million.
Outstanding Investment Performance and Market Volatility
Metaplanet tracks an internal metric called “BTC Yield” to measure the performance of Bitcoin investments, removing the dilution factor. Since the beginning of 2025, the metric has returned 121.1%, reflecting the clear effectiveness of its BTC accumulation strategy.
Metaplanet shares (ticker: 3350.T) have soared more than 1,600% over the past 12 months, reaching 511 Japanese yen (equivalent to $3.50). However, like many other digital asset holding companies, Metaplanet shares are still affected by Bitcoin price fluctuations. In April 2025, the company’s shares fell more than 26% in 5 days when BTC fell below $80,000, partly due to concerns about new tax policies in the US.
Bitcoin Confidence Remains
Despite the short-term volatility, Metaplanet continues to demonstrate a clear commitment to accumulating Bitcoin. The $21.25 million bond issue comes just days after a previous $25 million round, suggesting the company is taking every opportunity to expand its digital treasury.
With Bitcoin currently trading around $103,000, the new capital could be enough to buy over 200 BTC, pushing Metaplanet’s BTC holdings closer to its ambitious long-term goals.