Metaplanet Raises 8 Billion Yen In Zero-Interest Bonds To Buy More Bitcoin

Metaplanet, the Tokyo-listed Bitcoin treasury firm, has raised 8 billion Japanese yen (about $50 million) through zero-interest ordinary bonds to fund additional Bitcoin purchases, according to a Thursday filing cited by Cointelegraph.

“Japan-based Bitcoin treasury firm Metaplanet has announced an aggressive 165 billion JPY (yen) plan for its Bitcoin buys”

AMBCrypto

Cointelegraph reports that the 20th series of ordinary bonds matures in April 2027 and is unsecured, and that the bonds will be redeemed at par on maturity.

AMBCrypto

The same report says EVO FUND, described as a Cayman-based fund at the core of Evolution Financial Group, is the main subscriber and can request early redemption with five business days’ notice.

Cointelegraph also states that Metaplanet may redeem part or all of the bonds if it completes future financings with the same investor.

Coinpaper similarly frames the move as a new bond issuance to support further Bitcoin purchases, saying Metaplanet will issue 8 billion yen worth about $50 million in zero-interest ordinary bonds.

Coinpaper adds that EVO Fund fully subscribed to the issuance and that the transaction marks Metaplanet’s 20th bond issuance.

The Block reports that Metaplanet is issuing 8 billion yen ($50 million) in zero-interest ordinary bonds to fund future bitcoin purchases, and it ties the company’s accumulation to its first-quarter buying.

The Block says Metaplanet purchased 5,075 BTC in the first quarter of this year, bringing its total to 40,177 BTC as of March 31.

The bond sale arrives as Metaplanet continues to expand its Bitcoin strategy despite reporting a large net loss for fiscal 2025, with multiple outlets tying that loss to unrealized valuation declines on its Bitcoin holdings.

Coinpaper says Metaplanet reported a $619 million net loss for fiscal 2025, mainly tied to unrealized valuation declines on its Bitcoin holdings, and it notes that the company’s shares weakened after the announcement.

Bitbo

Cointelegraph similarly describes the company’s accumulation strategy as it leans further into its Bitcoin treasury model, and it says the bond sale is expected to have only a minimal impact on its consolidated results for fiscal 2026.

Cointelegraph also reports that the latest raise extends a financing strategy Metaplanet has used repeatedly, tapping capital markets rather than relying solely on operating cash flow.

The Block adds that Metaplanet’s additional bond issuance comes despite reporting a $619 million net loss for the fiscal year of 2025, mostly driven by an unrealized valuation loss on its bitcoin holdings.

The Block also places the bond announcement in a market context, stating that while bitcoin is down from an all-time high of around $126,000 in October 2025, it is currently trading at $77,800 and up 10% over the past month.

Cointelegraph and Coinpaper both cite recent BTC trading levels in the $77,000 to $77,800 range, with Cointelegraph saying BTC was trading around $77,000 in recent sessions and Coinpaper saying Bitcoin traded near $77,800.

AMBCrypto adds further detail by describing a broader funding plan, saying Metaplanet announced an aggressive 165 billion JPY plan for its Bitcoin buys, with 33.4 billion JPY of bonds and 131.78 billion JPY through stock sales covering the 2026-2028 period.

Across the coverage, EVO FUND is consistently described as the investor behind the bond issuance, and outlets spell out how the bonds can be redeemed.

“Metaplanet Ramps Up Bitcoin Buying Strategy With $50 Million Zero-Interest Bond Sale Published 8:24 AM Apr 24, 2026 Uk Jin 00 Copy linkTelegramX Forecast Trend Report by Period”

bloomingbit

Cointelegraph says EVO FUND is the main subscriber to Metaplanet’s zero-interest bonds used to fund Bitcoin purchases, and it adds that under the terms of the deal, the bonds will be redeemed at par on maturity.

Cointelegraph further states that EVO FUND can request early redemption with five business days’ notice, and it says Metaplanet may also redeem part or all of the bonds if it completes future financings with the same investor.

Coinpaper likewise says the company confirmed that EVO Fund fully subscribed to the issuance, reinforcing that the bond sale is not described as a broad distribution.

The Block describes the issuance as coming from a Friday Metaplanet filing and reiterates that the bonds are zero-interest ordinary bonds, while also emphasizing that the firm has maintained consistent accumulation since April 2024.

AMBCrypto provides additional structure by saying the treasury firm issued an 8 billion JPY (about $50 million) zero-interest bond to Evo Fund and that the total fund for Bitcoin purchases will be less than the 165 billion JPY ($1 billion).

AMBCrypto also says that when including all of these stock acquisition rights, the company will have a total financing capacity of 157.204 billion JPY for Bitcoin purchases, described as about $982 million in dry powder for extra BTC buys.

CoinGape reports that a company filing on April 24, 2026 shows the bonds will be allocated to its EVO FUND and that the bonds exhibit no interest and can be redeemed in April 2027.

Several outlets connect the $50 million bond issuance to a larger multi-year financing framework and to Metaplanet’s stated Bitcoin targets.

AMBCrypto describes a 165 billion JPY plan for Metaplanet’s Bitcoin buys, saying the funding plan will involve 33.4 billion JPY of bonds and 131.78 billion JPY through stock sales covering the 2026-2028 period.

CoinCentral

AMBCrypto says that the first phase includes the 8 billion JPY zero-interest bond to Evo Fund and that the debt will be repaid when it matures by April next year.

AMBCrypto also states that including all stock acquisition rights, Metaplanet will have a total financing capacity of 157.204 billion JPY for Bitcoin purchases, about $982 million in dry powder for extra BTC buys.

AMBCrypto adds that at current prices, that amount would buy about 13K BTC and that Metaplanet’s 2026 target is 100K BTC.

It reports that currently, Metaplanet owns 40,117 BTC and that in the past three quarters it has acquired 5K BTC on a quarterly average, while assuming the buying pace continues it could add about 15K extra BTC to its stash.

Cointelegraph and Coinpaper both emphasize the company’s recent accumulation pace, with Cointelegraph saying Metaplanet added 5,075 BTC in the first quarter and lifting total holdings to about 40,177 BTC.

CoinGape adds that Metaplanet is working towards possessing up to 100,000 BTC in 2026 and 210,000 BTC in 2027, and it frames the bond issuance as part of a broader playbook since 2024.

One outlet adds a specific change to how Metaplanet plans to use proceeds from stock acquisition rights after the bond issuance, describing a shift that includes early bond redemption.

“Japan's Metaplanet buys 797 Bitcoin as BTC surpasses $120,000”

CoinDesk

TipRanks says Metaplanet will use part of proceeds from its 27th stock acquisition rights to redeem the newly issued ¥8 billion bond, shifting some funds away from direct Bitcoin purchases.

CoinDesk

TipRanks reports that under the revised plan, ¥8 billion of the ¥37.135 billion to be raised via the 27th series of stock acquisition rights will be earmarked for bond redemption between April 2026 and April 2027.

It also says ¥25.422 billion is reserved for Bitcoin purchases and ¥3.714 billion for Bitcoin income generation through April 2028.

TipRanks frames the revision as a way to balance growth in BTC holdings with shareholder value while still allocating significant capital to build its Bitcoin position.

The same TipRanks piece notes that Metaplanet has received ¥8 billion from EVO FUND through the issuance of its 20th series of ordinary bonds and that it is revising how it plans to use funds from its 27th series of stock acquisition rights.

Cointelegraph had earlier described the bond terms as including redemption at par on maturity and early redemption at EVO FUND’s request with five business days’ notice, while TipRanks adds that the company itself is planning to redeem bonds early using stock proceeds.

Coinpaper and The Block both tie the bond issuance to future Bitcoin acquisitions, but TipRanks introduces the operational detail that not all stock proceeds will be directed to purchases.