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Metaplanet Bitcoin reserve just received a massive power-up. The Japanese investment firm has raised $50 million via zero-interest bonds—an aggressive and unconventional move to boost its already massive Bitcoin holdings.
In a May 28 announcement, Metaplanet confirmed that it had finalized a new private placement of unsecured, zero-coupon bonds worth $50 million.
The goal? Supercharge its Bitcoin treasury strategy. The bonds, issued in $1.25 million tranches, won’t offer interest to investors. Instead, profits are expected through their redemption value at maturity.
At the heart of this financing deal is Evo Fund, a Cayman Islands-based investment group and long-time backer of Metaplanet’s Bitcoin initiative.
Evo Fund is the exclusive subscriber to the latest bond issuance, continuing its streak of support across multiple Bitcoin-related capital raises.
“This shows a deep layer of confidence in Metaplanet’s execution and in the long-term future of Bitcoin itself,” said Yuki Nakamura, Tokyo-based fintech analyst. “Few companies are this bold in reshaping corporate treasury with Bitcoin at the center.”
A radical bet on Bitcoin, no strings attached. What sets this issuance apart is the complete lack of traditional security. The bonds are:
•Unsecured
•Uncollateralized
•Without a bond administrator
That’s virtually unheard of in traditional finance, but for Metaplanet, it’s a calculated move. By sidestepping traditional financial constraints, the company gains flexibility to aggressively grow its Metaplanet Bitcoin reserve without tying up assets.
With this latest raise, Metaplanet adds to what is now one of the largest Bitcoin treasuries held by a publicly listed company. The firm currently holds 7,800 BTC, valued at over $800 million, following its $100 million acquisition of 1,004 BTC in May.
According to data from BitcoinTreasuries.net, Metaplanet Bitcoin reserve investment is up nearly 20%—a return that’s beginning to shape corporate thinking on treasury diversification.
Metaplanet’s crypto-centric strategy is also stirring the equities market. Research firm 10x Research recently noted that the firm’s stock is trading as if its Bitcoin were worth 5x its actual value.
“In essence, investors are dramatically overpaying for indirect Bitcoin exposure,” said 10x in a May 27 note.
The hype has led to skepticism from veteran investors. Speaking at the Sohn Investment Conference in New York, famed short-seller Jim Chanos revealed he was selling Strategy stock to buy Bitcoin directly, arguing that holding actual BTC yields better value than buying into companies with inflated crypto valuations.
Despite the boldness of the move, Metaplanet maintains that this new bond issuance will have minimal impact on its 2025 financials. In its official statement, the firm indicated that any material developments will be disclosed in due course.
Still, the Metaplanet Bitcoin reserve strategy has already sent ripples across Asia’s financial landscape.
“Metaplanet is fast becoming Japan’s answer to MicroStrategy,” said Kenji Sato, a digital asset strategist with Tokyo-based JCHAIN Capital. “This $50 million move is more than just a reserve expansion—it’s a signal that corporate treasuries are waking up to Bitcoin as a primary asset.”
With a swelling Metaplanet Bitcoin reserve, zero-interest bonds, and a high-stakes partnership with Evo Fund, the Japanese firm isn’t just investing in crypto—it’s rewriting the corporate treasury playbook.
While critics like Chanos argue for direct exposure, Metaplanet’s method may offer an alternative blueprint for companies seeking BTC without touching the asset directly.
Either way, this $50 million move is yet another chapter in the rise of Bitcoin-backed corporate finance. The Bit Gazette will continue to observe the market and report as events unfold.
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