Japanese investment company Metaplanet issued $21 million in zero-interest bonds to Evo Fund, an investment company registered in the Cayman Islands. This action occurred just one day after announcing another round of $50 million in financing, further accelerating its aggressive Bitcoin accumulation strategy.
The 17th round of bonds was issued on May 29, with a face value of $525,000 each, maturing on November 28, 2025. Unlike traditional debt instruments, these bonds do not generate any interest, allowing Metaplanet to borrow without increasing additional repayment costs.
According to the terms of the agreement, Evo Fund has the right to redeem the bonds early, provided that at least five business days' notice is given. These bonds can be redeemed in whole or in part, in multiples of $525,000.
Metaplanet may also trigger a redemption mechanism related to future financing rounds involving the same investor, depending on the cumulative payment amount.
These bonds are not secured by collateral or guarantees, nor is a bond trustee specified, which is permitted under Japanese corporate law. The company has designated its Tokyo office as the payment processing location.
Metaplanet has been actively utilizing the debt market to fund Bitcoin purchases, raising $25.9 million in February, $13.3 million in March, and another $25 million in early May.
The company's explicit goal is to hold 10,000 Bitcoins by the end of 2025. With the completion of two rounds of financing this week, the total funds raised this year have reached $135.2 million.
According to BitcoinTreasuries.NET, Metaplanet currently holds approximately 7,800 Bitcoins, ranking 11th among corporate Bitcoin holders. The company's holdings are now valued at around $840 million, with an average purchase price of $91,340 per Bitcoin.
In March, the company increased its holdings by 696 Bitcoins through a combination of exercising cash-secured put options and selling the premiums earned from these contracts. Subsequently, by the end of April, it purchased an additional 145 Bitcoins for $13.6 million.
On May 1, Metaplanet announced plans to establish a wholly-owned U.S. subsidiary, Metaplanet Treasury, in Florida. This entity plans to raise up to $250 million to further advance its Bitcoin strategy and enter the U.S. capital markets.
The company has also attracted some notable figures. Eric Trump, the son of U.S. President Donald Trump, joined the company's strategic advisory board in March.
It is noteworthy that corporate Bitcoin accumulation strategies are gaining strong momentum. On May 28, U.S. video game and consumer electronics retail giant GameStop confirmed its first Bitcoin investment, purchasing 4,710 Bitcoins.
Related: Bitcoin (BTC) may see an "epic surge" to $120,000, after a U.S. court halted Trump tariffs.
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