Metaplanet Raises $21 Million in Zero-Coupon Bonds to Expand Bitcoin Strategy
Investment firm Metaplanet has further strengthened its Bitcoin accumulation strategy by successfully raising $21 million in zero-coupon bonds, just one day after announcing plans to raise a separate $50 million. This is part of the company’s ambitious goal of owning 10,000 BTC by the end of 2025.
New Bonds Add Funds to Buy Bitcoin
The newly issued bonds have a face value of $525,000 per unit and will mature on November 28, 2025. Evo Fund, an investment fund based in the Cayman Islands, is the lead purchaser in the deal. Notably, the bonds allow for early redemption with five business days’ notice from investors. With this round of funding, Metaplanet has raised a total of $135.2 million in 2025, all of which is earmarked for Bitcoin accumulation.
According to updated data, Metaplanet currently holds approximately 7,800 BTC, equivalent to nearly $840 million, with an estimated average purchase price of $91,340/BTC. The company is currently the 11th largest Bitcoin holder globally and the leading organization in Asia in terms of BTC holdings.
Modern Financing Strategy: Zero-Coupon Bonds
The zero-coupon bond issuance allows Metaplanet to raise capital without the pressure of periodic interest payments, thereby minimizing pressure on operating cash flow. The profit for investors comes from the difference between the purchase price and the face value at maturity. This is a financial strategy that is becoming increasingly popular among Bitcoin-accumulating companies as they look for an efficient way to expand their digital treasury.
In 2025 alone, Metaplanet has had several debt issuances:
February: $25.9 million
March: $13.3 million
Early May: $25 million
In addition, the company has incorporated derivatives such as cash-backed put options, which bought back 696 BTC in March. In April, the company continued to buy an additional 145 BTC with a transaction value of approximately $13.6 million.
Expanding into the US Market with Metaplanet Treasury
In order to expand its funding scale and access larger capital markets, Metaplanet established a US subsidiary called Metaplanet Treasury, headquartered in Florida. The subsidiary aims to raise another $250 million, continuing its mission of accumulating Bitcoin and expanding its presence globally.
Businesses Boost Bitcoin Accumulation in 2025
The trend of businesses owning Bitcoin is on the rise in 2025. According to Crypto Basic, the number of public companies holding BTC has increased by 80% since January 2024, with 81 companies now including Bitcoin on their balance sheets. The pace of institutional purchases of BTC is now at 1,000 BTC per day, according to statistics from Rivers Financial.
Another notable example is GameStop, the popular video game retailer, which purchased 4,710 BTC worth $513 million through a convertible bond issuance with a total value of up to $1.5 billion.
The Blockchain Council study notes that a favorable regulatory environment and government support are key factors in making companies more confident in integrating Bitcoin. The Trump administration has established dedicated cryptocurrency task forces, while approved Bitcoin ETFs have attracted billions of dollars in institutional investment this year.
Prospects and Challenges in Accumulating Bitcoin
Integrating Bitcoin into corporate treasury is not only to hedge against inflation and currency devaluation risks, but also to capitalize on the long-term growth potential of this digital asset. However, some analysts still warn of high price volatility and regulatory risks, which could affect the long-term strategy of businesses.
As of now, the total amount of BTC held by public companies has exceeded 652,000 BTC, but this number is still very modest compared to the total number of publicly traded businesses, showing that there is still a lot of room for growth.
Macro Impact and Future Growth
Data from Security.org shows that 28% of US adults will own cryptocurrency in 2025 – nearly double the number in 2021. Bitcoin remains the most popular digital asset, accounting for a large portion of individual and institutional investors’ portfolios.
Traditional financial institutions are increasingly offering crypto-related services to meet growing demand. Payment processors have integrated crypto options, while investment funds have launched new products for institutional clients. According to analysis from Bitpanda Academy, the approval of Bitcoin ETFs and an improving political climate have contributed to increased confidence in the digital asset market.