Metaplanet has announced a new bond issuance to purchase Bitcoin.
It issued bonds for 2 billion Japanese yen (13 million dollars) in ordinary bonds at 0%, and purchased 150 BTC.
Now the company owns 3,200 BTC.
The bonds issued by Metaplanet to purchase Bitcoin
It is not the first time that the Japanese company Metaplanet issues bonds.
In the official statement, it declares that it has issued its ninth series of ordinary bonds, pursuant to a resolution approved at the Board of Directors meeting held today.
He also expressly stated that the funds thus collected would be allocated to the purchase of Bitcoin.
The scheduled date for the repayment is September 17, 2025, and they will be repaid in full at their nominal value.
Note that in the statement the company writes:
“The issuance of these bonds is expected to have a minimal impact on the Company’s consolidated financial results for the fiscal year ending in December 2025. Should there be a material impact on our financial performance or other matters, we will promptly provide an update”.
The purchase of Bitcoin through the issuance of ordinary bonds
With a second announcement, Metaplanet announced the purchase of another 150 BTC, bringing the total number of Bitcoin held to 3,200.
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Since 1.879 billion yen were used for this purchase, the average price for BTC was 12,526,226 yen, equivalent to just over $83,500. This is a purchase price perfectly in line with current quotes, and slightly lower than the average purchase price of $84,000 for the 3,200 Bitcoin they own.
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The first purchase of BTC by the company was made in April of last year, at an average price of about $68,000, but Metaplanet has continued to buy practically every month, or almost, until now.
Initially, he had bought less than 100 Bitcoin, but by July they had surpassed the 200 Bitcoin held, and by October the 500.
Note that until November the purchase price had always been below $80,000, and that before Trump’s electoral victory they already had more than a thousand Bitcoin in cash.
However, this means that the bulk of the purchases was made later, at prices above $80,000. For example, at the beginning of February 2025, they purchased 300 BTC in one go at a price of almost $82,000, and in March, today’s is already the fourth purchase.
As of today, it is the tenth company in the world for the amount of Bitcoin held, but very far from the nearly 500,000 BTC of Strategy.
The motivations
The motivations behind this strategy are very simple: the company in the course of 2024 has decided to change activities, becoming a Bitcoin Treasury Company.
Previously, he worked in the hotel industry, but with disappointing results.
It landed on the Tokyo stock exchange in 2005, but in less than four years it lost almost all of its value (-98%).
In 2013, it had a brief surge that brought the price of its shares above 66,000 yen, but then it collapsed again.
The lowest point was reached in the early months of 2024, just before the company decided to start purchasing BTC.
And so from a price below 200 yen in the span of a few months, it returned to 3,000, and then soared at the end of the year, reaching an annual high above 72,000 yen in February 2025.
This strategy is evidently paying off, given that the company’s stock market value has increased from 2.2 billion yen a year ago to the current 174.6 billion, with a remarkable +5,400% in less than twelve months.
However, not only are the initial 256,000 yen far away, but the 66,000 reached in 2013 are also still very far away.
