Japanese firm Metaplanet issues $13.3M in bonds to buy more Bitcoin

Metaplanet — a Japanese firm following in Strategy’s footsteps by focusing on accumulating Bitcoin — issued 2 billion Japanese yen ($13.3 million) of bonds to buy more BTC.

According to a March 31 filing, Metaplanet issued the zero-interest bonds by allocating them via its Evo Fund to fuel its Bitcoin purchases. Investors will be allowed to redeem the newly-issued securities at full face value by Sept. 30.

The firm’s CEO, Simon Gerovich, wrote in an X post that the company was taking advantage of the recent downturn in Bitcoin prices. The announcement comes as Bitcoin changed hands for about $82,000 at the time of writing, down 25% from its all-time high of over $109,000.

Related: Metaplanet share price rises 4,800% as company stacks BTC

Metaplanet is Asia’s top corporate Bitcoin holder and the 10th in the world, according to BitcoinTrasuries data. Currently, the firm owns about 3,200 Bitcoin worth about $1.23 billion.

Following in the footsteps of giants

Metaplanet is often called “Asia’s MicroStrategy,” as its corporate plan closely mirrors that of Strategy (formerly MicroStrategy), the US-based market intelligence firm that shifted its primary focus to accumulating Bitcoin (BTC). Metaplanet’s US-based older brother is the top corporate Bitcoin holder with over 500,000 BTC in its coffers, worth nearly $82 billion, more than 2% of the 21 million Bitcoin supply limit.

Related: Metaplanet tips first operating profit in 7 years, boosted by Bitcoin

Earlier this month, Metaplanet purchased 150 Bitcoin, chipping away at its objective of accumulating 21,000 BTC by 2026. At the beginning of March, the firm’s stock jumped 19% in less than a day after it splurged $44 million to add Bitcoin to its coffers.

Also, this month, Metaplanet started exploring a potential US listing as the company acquired another 156 BTC. Gerovich said at the time:

“We are considering the best way to make Metaplanet shares more accessible to investors around the world.”

An increasingly influential company

Metaplanet is making powerful friends in the US political landscape. Earlier in March, the company appointed US President Donald Trump’s son Eric to its newly established strategic board of advisers to further Metaplanet’s mission to become a “global leader in the Bitcoin economy.” Company representatives said at the time:

“Eric Trump brings a wealth of experience in real estate, finance, brand development, and strategic business growth and has become a leading voice and advocate of digital asset adoption worldwide.“

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