Metaplanet Reaches 10,000 BTC Holdings, Surpasses Coinbase Global

The Tokyo-listed company hit its 2025 accumulation target six months early with the mid-June purchase. Metaplanet paid approximately $117.2 million for the acquisition.

Bond Issuance Funds BTC Purchase

The company is going hard into debt markets to grow its Bitcoin stack. It raised $25.9 million in February, $13.3 million in March, and another $25 million in early May – all aimed at crypto buys.

And this time, Metaplanet's board issued $210 million in zero-interest bonds to Evo Fund, a Cayman Islands investment vehicle. The bond proceeds directly support the company's Bitcoin buying strategy, with funds specifically designated for digital asset acquisitions.

The timing of the bond approval and Bitcoin purchase appears coordinated. While Metaplanet did not specify exact dates for each transaction, the company indicated both moves work together to support ongoing accumulation efforts.

“We have reached our 10,000 BTC milestone ahead of schedule,” the firm stated in its disclosure afterwards. The company positioned the bond issuance as part of its broader digital asset strategy rather than a one-time funding mechanism.

Corporate Rankings Reshuffled

Metaplanet surpassed Coinbase Global's 9,267 BTC in disclosed corporate reserves after building its position from under 2,000 BTC at the start of 2025. The Japanese firm's rapid accumulation over six months propelled it ahead in rankings among publicly traded companies.

The company set a goal to reach 10,000 BTC by the end of 2025 during CEO Simon Gerovich's year-end address, where he outlined plans to use “the most accretive capital market tools available” for expansion.