Japanese bitcoin treasury agency Metaplanet is again in the market with one other spherical of balance-sheet leverage, issuing 8 billion yen, price roughly $50 million, in zero-interest atypical bonds to finance future bitcoin purchases.
In a Friday submitting, the corporate stated 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 gentle shopping for spree since April 2024, including 5,075 BTC in the primary quarter alone. As of writing, it held 40,177 BTC, which makes it the third-largest listed bitcoin treasury globally, in accordance to BitcoinTreasuries.
The aggressive accumulation continues even because the agency faces deep paper losses. Metaplanet reported a $619 million web loss for fiscal 2025, largely pushed by unrealized markdowns on its bitcoin stack.
The broader backdrop, nevertheless, has been risky quite 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 in the Middle East. It is at present buying and selling round $77,800, nonetheless up roughly 10% over the previous month as danger sentiment stabilizes.
