Japanese bitcoin treasury company launches continuous bond issuance program
Metaplanet, a Tokyo-listed bitcoin treasury company, closed its first private sale of BitBonds on August 13, raising approximately 200 million yen ($1.3 million) across four series. The issuance marks the debut of BitBonds, a continuous bond program designed to diversify the company’s funding channels alongside equity offerings.
BitBonds are unsecured, unrated senior bonds with annual interest rates between 4% and 4.3%, maturing in approximately three years. The securities are not principal-protected and expose investors indirectly to fluctuations in Metaplanet’s bitcoin-heavy balance sheet, which the company states holds 43,000 BTC. Metaplanet Securities, a wholly owned subsidiary, distributed the bonds to individuals and companies under Japan’s small-number private placement rules.
The solicitation for BitBonds began in late July 2026. CEO Simon Gerovich denied recent speculation that Metaplanet had sold bitcoin, characterizing a movement of 5,014 BTC as routine custody transfer.
BitBonds carry transfer restrictions and liquidity before maturity is not guaranteed. The bonds represent one of several core funding mechanisms available to Metaplanet, sitting alongside common stock, equity-linked securities, and preferred shares. The company is considering registered public offerings for future issuance, though timing depends on funding needs, market conditions, and investor demand.
Metaplanet shares closed at 223 yen ($1.40 USD) on Thursday, up 0.9% on the day. The company trades on the Tokyo Stock Exchange under ticker 3350.
