Metaplanet has announced a new bond issuance to support further Bitcoin purchases. The Japanese Bitcoin treasury firm will issue 8 billion yen, worth about $50 million, in zero-interest ordinary bonds. The move comes as the company continues to expand its BTC strategy despite reporting a $619 million net loss for fiscal 2025. The loss was mainly tied to unrealized valuation declines on its Bitcoin holdings. Metaplanet’s shares also weakened after the announcement, while Bitcoin traded near $77,800.
Metaplanet said the 8 billion yen bond issuance will fund future Bitcoin acquisitions. The company confirmed that EVO Fund fully subscribed to the issuance. EVO Fund has also supported earlier Metaplanet financing rounds.
The latest transaction marks Metaplanet’s 20th bond issuance. The company has used debt and equity-linked instruments to support its Bitcoin accumulation plan since adopting the strategy in April 2024.
Metaplanet ranks as Japan’s largest corporate holder of digital assets. Its approach has drawn comparisons with other public companies that use balance sheet capital to build long-term Bitcoin reserves.
Bitcoin Holdings Rise Despite Annual Loss
Metaplanet purchased 5,075 BTC in the first quarter of 2026. That brought its total Bitcoin holdings to 40,177 BTC as of March 31. The total placed the firm among the largest listed Bitcoin treasury companies globally.
However, the company’s latest funding move comes after a steep annual loss. Metaplanet reported a $619 million net loss for fiscal 2025, mainly due to unrealized valuation losses on Bitcoin holdings.
The loss shows the balance sheet pressure linked to holding a large Bitcoin reserve. Still, Metaplanet continues to direct capital toward BTC purchases under its treasury strategy.
Metaplanet shares declined after the company announced the bond issuance. Market data cited in reports showed the stock dropped about 3.5% in one day.
The stock has also remained under pressure over a longer period. It fell about 2% over five days and around 27% across six months, despite gaining roughly 10% over one month.
The share decline suggests investors remain cautious about the firm’s debt-funded Bitcoin strategy. The company’s exposure to BTC price swings remains a key factor for its market performance.
Bitcoin Price Trades Near $77,800 Amid Volatility
Bitcoin traded around $77,800 after recovering from earlier weakness. BTC gained about 9% over the past month, though it remained below its October 2025 record near $126,000.
Short-term price action remained mixed. BTC was down slightly on the day, while weekly and monthly trends showed some recovery.
Metaplanet’s latest bond sale adds to its Bitcoin-focused treasury plan. The company now aims to increase BTC holdings while managing debt obligations after a large unrealized loss.
Source: https://coinpaper.com/16551/metaplanet-issues-50-m-bonds-to-expand-btc-holdings-despite-619-m-loss
