Japanese bitcoin treasury agency Metaplanet is again out there with one other spherical of balance-sheet leverage, issuing 8 billion yen, value roughly $50 million, in zero-interest peculiar bonds to finance future bitcoin purchases.
In a Friday submitting, the corporate mentioned the newest issuance was totally taken up by EVO Fund, a Cayman Islands-based investor that has repeatedly anchored Metaplanet’s earlier choices. It additionally marks the agency’s twentieth bond issuance, underscoring its lengthy favored technique of tapping debt markets to fund bitcoin accumulation.
Metaplanet, now Japan’s largest company bitcoin holder, has maintained a gradual shopping for spree since April 2024, including 5,075 BTC within the first quarter alone. As of writing, it held 40,177 BTC, which makes it the third-largest listed bitcoin treasury globally, in response to BitcoinTreasuries.
The aggressive accumulation continues even because the agency faces deep paper losses. Metaplanet reported a $619 million internet loss for fiscal 2025, largely pushed by unrealized markdowns on its bitcoin stack.
The broader backdrop, nonetheless, has been unstable reasonably than outright bearish. Bitcoin, which briefly surged to an all-time excessive close to $126,000 in October 2025, has since pulled again amid geopolitical shocks within the Center East. It’s at present buying and selling round $77,800, nonetheless up roughly 10% over the previous month as threat sentiment stabilizes.
