Metaplanet Raises $50M in Zero-Coupon Bonds for Bitcoin Expansion

Metaplanet, a Tokyo-listed company, has issued $50 million in zero-coupon bonds to EVO FUND. The funds will be used to purchase additional Bitcoin, following Metaplanet's strategy of accumulating cryptocurrency through debt financing. This is the company's 20th series of ordinary bonds and is unsecured with no interest cost to Metaplanet.

The bonds mature in April 2027 and will be redeemed at par on maturity. EVO FUND, a Cayman Islands-based fund within Evolution Financial Group, has been the primary subscriber to Metaplanet's zero-coupon bond issuances used to fund its Bitcoin treasury strategy.

Metaplanet ended the first quarter holding approximately 40,177 BTC after adding 5,075 BTC during the quarter. This makes it the third-largest publicly listed Bitcoin holder globally. The company plans to continue buying despite recent market volatility, with BTC trading around $77,000 in recent sessions.

Metaplanet's share price was down approximately 3.69% at the time of filing. The bond sale is expected to have only a minimal impact on its consolidated results for fiscal 2026.