Metaplanet Raises $50M in Zero-Interest Bonds for Its 20th Bitcoin Buy!

Metaplanet has launched its 20th bond issuance, raising ¥8 billion ($50 million) in zero-interest, zero-collateral debt to fund further Bitcoin purchases with <a class="ticker-mention" href="/en-US/token/btc">BTC</a> trading near $77,800. EVO Fund, the Cayman Islands-based anchor investor, fully subscribed to the offering — continuing a rolling structure where bonds are auto-redeemed as EVO exercises stock warrants in subsequent rounds.

The Japanese treasury firm now holds 40,177 BTC valued at approximately $3.11 billion, making it the third-largest listed Bitcoin treasury globally. The position came at a cost: Metaplanet reported a $619 million net loss for fiscal 2025, driven almost entirely by unrealized Bitcoin markdowns. Q1 alone saw 5,075 BTC added to the stack.

With a stated target of 100,000 BTC by 2026, the firm&#x27;s buying cadence is structural rather than opportunistic. Analysts are watching the $75,000 support level as the…