Metaplanet

  • Metaplanet Inc. issues $50M in zero-coupon bonds to directly expand its Bitcoin holdings, signaling rising institutional BTC confidence.

  • EVO FUND's exclusive bond subscription highlights growing whale interest, as BTC whales accumulate amid retail market dormancy.

  • With Bitcoin trading above $108K, whale accumulation and institutional treasury allocations suggest a bullish macro outlook for BTC.

Metaplanet Inc. has issued $50 million in non-interest-bearing ordinary bonds to acquire additional Bitcoin. The strategic move reflects an accelerated push to deepen its digital asset exposure through direct BTC purchases.

Tokyo Firm Taps EVO FUND to Boost BTC Treasury

https://twitter.com/Metaplanet_JP/status/1927531023505797580

According to Metaplanet Inc., the company's board approved the 16th Series of Ordinary Bonds on May 28, 2025. Each bond carries a $1.25 million face value, totaling $50 million, and the entire issuance was subscribed exclusively by EVO FUND. “The purpose of this issuance is to allocate funds toward the purchase of Bitcoin,” Metaplanet stated, highlighting its long-term Bitcoin investment policy.

The zero-coupon structure ensures no interest payments through maturity, offering a direct, short-term capital infusion for BTC accumulation. The bond matures in six months November 27, 2025, and may be redeemed early if EVO FUND issues a written notice at least five business days prior. No guarantees or collateral secure the bonds, and Metaplanet will handle all payment operations internally without a book-entry transfer agency.

Bond Structure Highlights Institutional Confidence in BTC

The company’s Tokyo headquarters confirmed that proceeds will go entirely toward Bitcoin acquisition. The decision reflects a tightening institutional embrace of digital assets, with funds funneled directly into spot BTC. According to CW, the current Exchange Whale Ratio (EWR) is 0.56, signaling lower retail involvement and increased whale accumulation—conditions that favor strategic institutional entries.

With the 72-day EWR moving average sitting at 0.4473, whales are actively accumulating BTC in anticipation of a retail influx. Historical data support this; past rallies in 2021, 2023, and early 2024 followed similar EWR spikes. This suggests that Metaplanet’s timing may be aligned with a broader accumulation window as spot prices remain elevated above $108,000.

Growing Corporate Bitcoin Allocations Signal Macro Support

Simultaneously, other market indicators suggest a different trend—widening corporate participation in BTC holdings. Crypto Rover reported that Strive has raised $750 million for Bitcoin treasury expansion, aiming to buy Mt. Gox claims and outperform BTC itself. Blockchain Group ALTBG is also targeting 1% of Bitcoin’s supply over the next 8 years, beginning with a $72 million bond-funded purchase.

Crypto Patel added that Trump Media launched a $2.5 billion BTC treasury deal involving over 50 investors. Their CEO referred to Bitcoin as “the apex instrument of financial freedom,” with assets to be held by Crypto.com and Anchorage Digital. These developments showcase a growing consensus among institutions that Bitcoin offers strategic, long-term monetary resilience.

Whale Activity Suggests Ongoing Market Structuring

The most recent trading behavior supports Metaplanet’s positioning in this cycle. Crypto Patel noted large whale buy orders between $74K and $76K triggered BTC’s move to $ 111 K. He emphasized strong support at those lower levels and current distribution zones near $108K–$ 112 K.

The aggressive accumulation phase may now transition into another price discovery leg. Should BTC break resistance at $112K, technical projections place the next target at $ 120 K. Whales appear prepared, retail volume is still lagging, and institutional entries like Metaplanet are setting the pace.

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