Metaplanet (TYO: 3350) issued its first bonds under its new BitBonds program, just a day after rumors surfaced that the firm might be the next $BTC reserve-holding company preparing to sell off its holdings.
Following a busy day of corporate announcements, CEO Simon Gerovich's Metaplanet also reported significant interim losses in its first-half report for fiscal year 2026, ended June 30.
Ordinary share dividends remained zero for the entire period covered by the report.
Metaplanet Sells Bonds
The most notable figures from Metaplanet Securities' bond placement, conducted as a small private offering rather than a public issuance, were:
- The bonds will be unsecured, issued in series 21, 21, 24, and 34
- The four series feature coupon interest rates ranging from 4.0% to 4.3%
- They will mature in approximately three years
- The bond sale raised a total of approximately ¥200 million ($1.25 million)
During its last regular bond placement (Series 20) in April 2026, Metaplanet raised $50 million, led by major investor EVO Fund, as Cryptopolitan reported at the time. The BitBonds tranche will be open to a wider range of investors, including both retail buyers and corporate investors.
Metaplanet may continue to issue new rounds of BitBonds under various terms, potentially tapping into demand for yen-denominated yield products as Japan's government and central banks transition to sustainably positive interest rates and household investments.
In June, Cryptopolitan reported on Metaplanet's earlier plan to channel part of the $7.1 trillion in idle Japanese household cash into Bitcoin-related products.
Metaplanet Did Not Sell Bitcoin
The $1.25 million BitBonds issuance came a day after CEO Gerovich had to put out a fire started when trac tracked the movement of 3,881 $BTC, worth roughly $247 million, out of known Metaplanet wallets, which could indicate a potential sale.
Gerovich clarified that the firm actually moved 5,014 $BTC, but not because they were preparing to enter the market.
"It was a routine custody operation. No bitcoin were sold, and our holdings remain 43,000 $BTC," Gerovich wrote on X.The CEO added a subtle hint that the entire transfer, worth about $322 million, cost about $8 in network fees.
In March, Metaplanet conducted a similar custody reorganization, moving around 4,986 $BTC. That operation also did not result in a sale.
The hype around Metaplanet's Bitcoin movement was fueled by other major Bitcoin-holding corporations, such as Strategy and MARA Holdings, selling off their tokens this year after never having sold before.
Third-Largest Shareholder Sitting on Paper Losses
Metaplanet remains the world's third-largest corporate Bitcoin holder according to Bitcoin Treasuries data. Its 43,000 $BTC trails Strategy's 840,447 coins and is just 514 coins behind Twenty One Capital's 43,514 coins.
On paper, the position looks precarious: on August 13th Bitcoin traded around $63,800, significantly below Metaplanet's average purchase price of about $96,191, leaving unrealized losses of roughly $1.4 billion. Since no coins have been sold, these losses remain on paper.
Stocks performed worse than government bonds. Metaplanet shares traded around ¥223, up about 0.9% for the day but down more than 43% year-to-date, with the company's public statement not triggering any visible sell-off.
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