Back-to-Back Raises: Metaplanet Taps $21M More to Accelerate BTC Treasury Strategy

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Japanese investment firm Metaplanet is showing no signs of slowing down its aggressive Bitcoin acquisition strategy.

Just a day after announcing a $50 million fundraising round, the company issued an additional Â¥3.3 billion (approximately $21 million) in zero-interest bonds to Cayman Islands-based Evo Fund on May 29.

Another Bold Bitcoin Move

The newly issued debt, labeled as Metaplanetâ€™s 17th bond series, features a face value of Â¥82 million ($525,000) per bond and matures on Nov. 28, 2025.

Unlike conventional debt instruments, these bonds carry no interestâ€”allowing Metaplanet to access fresh capital without the burden of ongoing repayments. According to the agreement, Evo Fund retains the right to call the bonds early with at least five business daysâ€™ notice, while Metaplanet has flexibility to redeem them during future fundraising rounds involving the same investor.

The issuance is unconventional in other ways as well: no collateral was pledged, no bond administrator has been appointed, and payment processing will take place at Metaplanetâ€™s Tokyo office, in line with Japanese corporate law.

$135M Raised This Year, Metaplanet Eyes 10,000 BTC

The $21 million raise brings the company’s total fundraising for 2025 to $135.2 million. Earlier this year, the company issued $25.9 million in February, $13.3 million in March, and another $25 million earlier in May. All of it is aimed at fueling its Bitcoin accumulation strategy, with a stated target of holding 10,000 BTC by the end of the year.

Currently, the company holds around 7,800 BTC, according to data from BitcoinTreasuries.net, placing it just outside the top 10 among corporate Bitcoin holders. With holdings now worth approximately $840 million, Metaplanet has averaged a purchase price of about $91,340 per coinâ€”showing a willingness to acquire BTC at relatively high market levels.

Largest corporate Bitcoin holders (Source: BitcoinTreasuries)

In March, Metaplanet added 696 BTC by executing a strategic options trade involving cash-secured puts. That was followed by a 145 BTC purchase worth $13.6 million in late April.

US Expansion and High-Profile Support

On May 1, the firm announced the formation of Metaplanet Treasury, a wholly owned US subsidiary based in Florida, with plans to raise up to $250 million to further its Bitcoin mission and capitalize on US capital markets.

The company has also attracted attention for its high-profile hiresâ€”most notably Eric Trump, son of US President Donald Trump, who joined the company’s Strategic Advisory Board in March.

Corporate Bitcoin Strategy Gains Momentum

Metaplanetâ€™s aggressive Bitcoin play is part of a broader trend. On May 28, US retailer GameStop confirmed its first Bitcoin purchase, acquiring 4,710 BTC. The announcement marks a new chapter in corporate crypto treasuries, with firms increasingly treating Bitcoin as a strategic reserve asset in an inflation-sensitive macro environment.

With zero-interest bonds and a US expansion underway, Metaplanet seems poised to keep climbing the corporate Bitcoin leaderboardâ€”and perhaps inspire more companies to follow suit.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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