Metaplanet will issue ¥8 billion ($50 million) in zero-interest bonds to deepen its Bitcoin exposure, according to a Friday statement.
This is Metaplanet’s 20th series of ordinary bonds. The bonds will mature in 2027, giving the company roughly a year to deploy the capital into Bitcoin and pay back the principal. At current prices of around $78,000 per Bitcoin, this $50 million could add somewhere between 640 and 700 coins to the company’s holdings.
The Tokyo-listed firm, now Japan’s largest corporate Bitcoin holder, owns 40,177 BTC worth about $3.1 billion. That makes it the third-largest Bitcoin holder among publicly traded companies, just behind Strategy and Twenty One Capital.
Metaplanet targets to hold 100,000 BTC by year’s end and lift that figure to 210,000 BTC by the end of 2027.
Despite a ¥95 billion ($619 million) net loss for fiscal year 2025, driven primarily by unrealized valuation declines, the firm continues to expand its Bitcoin treasury.
In the first quarter of 2026, Metaplanet added 5,075 BTC worth around $405 million and achieved a BTC Yield of 2.8%. Its aggressive accumulation strategy has pushed its average acquisition cost to $104,106 per Bitcoin, largely above the current market price.