Key facts
- Metaplanet launched its BitBonds debt program, raising $1.3 million in a private sale.
- The company denied selling Bitcoin following a large internal transfer, stating its holdings remain 43,000 BTC.
- The unsecured, unrated senior bonds mature in approximately three years with annual interest rates between 4% and 4.3%.
- BitBonds is intended to fund future Bitcoin purchases and other corporate purposes, complementing existing capital-raising methods.
- Investors are indirectly exposed to Metaplanet's bitcoin price volatility as the bonds are not principal-protected.
Japanese bitcoin treasury company Metaplanet has launched its "BitBonds" debt issuance program, successfully completing an initial private placement that raised approximately 200 million yen ($1.3 million). The unsecured, unrated senior bonds mature in about three years and carry annual interest rates ranging from 4% to 4.3%. Metaplanet intends for BitBonds to serve as a core funding channel, complementing its existing offerings of common stock, equity-linked securities, and preferred shares, and could be used for future Bitcoin purchases.
Metaplanet CEO Simon Gerovich also denied claims that the company sold Bitcoin following a large transfer of 5,014 BTC between company custody addresses, stating it was a routine operation and its holdings remain 43,000 BTC. The company publishes its Bitcoin addresses, making such movements visible in real time.
Future bond issuances under the BitBonds program will be contingent on market demand and funding requirements, with the possibility of registered public offerings being considered. While the bonds offer fixed interest and principal repayment based on Metaplanet's creditworthiness, investors are indirectly exposed to fluctuations in the value of the company's bitcoin-heavy balance sheet, as the securities are not principal-protected and liquidity before maturity is not guaranteed.