• Japanese firm Metaplanet issues $25M bonds to buy Bitcoin, continuing its strategic shift to crypto assets as treasury holdings.

  • Following MicroStrategy’s lead, public companies globally are adopting Bitcoin for inflation hedging and portfolio diversification in financial strategies.

  • Corporate Bitcoin adoption grows worldwide, with North American firms leading while Asian companies like Metaplanet show increasing participation in crypto markets.

In recent years, Bitcoin has transitioned from a fringe asset to a mainstream financial instrument, attracting attention from individual investors, institutional capital, and public companies.

 

In May 2025, Japanese-listed company Metaplanet announced the issuance of $25 million in zero-coupon bonds to fund additional Bitcoin (BTC) purchases.

 

This move continues its “Bitcoin-first” strategic transformation and offers a live case study for other enterprises exploring crypto asset investments.

 

 

 

METAPLANET’S JOURNEY INTO BITCOIN INVESTMENT

 

Metaplanet, listed on the Tokyo Stock Exchange, traditionally focused on hotel asset management and investments. Starting in 2024, the company began shifting its core strategy to prioritize Bitcoin as a primary treasury asset.

 

Through multiple zero-coupon bond issuances, Metaplanet has steadily increased its Bitcoin holdings, becoming one of Japan’s most prominent public Bitcoin investors.

 

 

 

Latest Development: $25 Million Bond Issuance

 

In May 2025, Metaplanet issued $25 million in zero-coupon bonds, with proceeds allocated entirely to purchasing Bitcoin.

 

These bonds, bearing no periodic interest, are to be repaid at face value upon maturity, effectively reducing short-term financial pressure and providing flexible funding for Bitcoin investments.

 

Previously, Metaplanet employed similar strategies to accumulate thousands of Bitcoins, making it a significant component of its balance sheet.

 

Strategic Motivations Behind Bitcoin Investment

 

Metaplanet’s Bitcoin investment is driven by several key factors:

 

  • Inflation Hedge: Amid global economic uncertainties and currency devaluation pressures, Metaplanet views Bitcoin as “digital gold” to protect against inflation.

 

  • Asset Appreciation: Given Bitcoin’s strong long-term price performance since its inception in 2009, Metaplanet aims to achieve capital appreciation through holding Bitcoin.

 

  • Diversified Asset Allocation: With traditional business growth slowing, Bitcoin offers a new investment avenue, reducing reliance on a single industry.

 

  • Market Visibility: Publicly investing in Bitcoin attracts crypto asset investors and younger shareholders, enhancing the company’s appeal in capital markets.

 

GLOBAL TREND OF PUBLIC COMPANIES INVESTING IN BITCOIN

 

Metaplanet is not alone; numerous public companies worldwide have incorporated Bitcoin into their asset allocations. Notable examples include:

 

MicroStrategy: A Benchmark in Bitcoin Investment

 

U.S. software firm MicroStrategy pioneered corporate Bitcoin investment. Since 2020, it has raised billions through convertible bonds and stock offerings, accumulating over 200,000 Bitcoins, making it the largest corporate Bitcoin holder globally.

 

CEO Michael Saylor regards Bitcoin as the “ultimate store of value,” central to the company’s strategy.

 

 

Tesla and Block

 

In 2021, Tesla invested $1.5 billion in Bitcoin and briefly accepted it as payment, retaining a portion of its holdings despite subsequent strategy adjustments.

 

Payment company Block (formerly Square), under founder Jack Dorsey, continues to invest in Bitcoin and develop blockchain technologies.

 

Other Notable Players

 

Canadian mining firm Hut 8 and crypto financial services provider Galaxy Digital participate in the Bitcoin market through direct holdings or indirect investments.

 

Traditional financial institutions like Morgan Stanley and Goldman Sachs have begun offering Bitcoin-related products to clients, indirectly promoting corporate acceptance of Bitcoin.

 

Global Trends:

 

  • North America Leads: With clear regulations and mature capital markets, North American public companies are the most active in Bitcoin investments.

 

  • Asia’s Rise: Japanese companies like Metaplanet indicate a rapidly growing interest in crypto assets in Asian markets.

 

  • Industry Diversification: Companies across various sectors—from technology to finance to manufacturing—are investing in Bitcoin, highlighting its broad asset appeal.

 

FUTURE OUTLOOK

 

As Bitcoin’s role in the global financial system solidifies, the trend of public companies investing in Bitcoin is expected to deepen. However, this evolution will be influenced by multiple factors.

 

 

 

Market Competition and Price Trends

 

With more institutions and companies entering the Bitcoin market, its fixed supply of 21 million coins may drive prices higher, benefiting early investors like Metaplanet.

 

However, increased participation could also lead to greater price volatility, especially during speculative bull and bear cycles.

 

Metaplanet needs robust risk management mechanisms, such as derivatives hedging or staggered purchasing, to navigate potential market fluctuations.

 

Diversified Corporate Strategies

 

Metaplanet’s Bitcoin investment may be just the beginning of its transformation. The company might further engage in the crypto asset ecosystem by developing Bitcoin-related financial products, offering custody services, or participating in decentralized finance (DeFi) projects.

 

These initiatives could enhance core business synergies and attract more institutional investors. For instance, Metaplanet could emulate MicroStrategy’s model by issuing Bitcoin-linked bonds or stocks to leverage its position in the crypto market.

 

Societal Perception and Cultural Shift

 

The widespread adoption of Bitcoin will shift societal perceptions from viewing it as a speculative asset to recognizing it as a strategic asset.

 

Metaplanet’s continued accumulation and transparent disclosures help dispel traditional investors’ biases against Bitcoin, encouraging more Asian companies to follow suit.

 

In the future, if Bitcoin becomes a standard component of corporate balance sheets, cases like Metaplanet’s may be replicated globally, leading to a wave of “corporate Bitcoinization.”

 

In summary, companies like Metaplanet are at the forefront of the global rise of crypto assets. Over the next five years, Bitcoin may further integrate into mainstream financial systems, becoming a “new normal” in corporate asset allocation.

 

However, success hinges on a company’s ability to maintain strategic focus amid regulatory, technological, and market uncertainties, and to innovate for maximum value realization.

 

 

CONCLUSION

 

Metaplanet’s issuance of $25 million in zero-coupon bonds to acquire more Bitcoin signifies a deepening of its strategic transformation and provides a vivid example for public companies exploring crypto asset investments.

 

Bitcoin, as an emerging asset class, offers opportunities for risk hedging and value appreciation but also comes with price volatility and regulatory challenges.

 

Metaplanet’s experience demonstrates that a clear strategy, flexible financing, and a long-term perspective are key to success. For other companies, this case serves as both an inspiration for innovation and a cautionary tale about potential risks.

 

In the digital asset era, how public companies balance innovation and prudence will become a significant topic in capital markets.

〈More and more listed companies are embracing Bitcoin〉這篇文章最早發佈於《CoinRank》。