Metaplanet debuts BitBonds program with $1.3M private bond sale in Japan

First BitBonds Tranche Closes at 200 Million Yen

@Metaplanet has officially launched its BitBonds program, completing the first sale with four privately placed bond series totalling approximately ¥200 million ($1.3 million). The unsecured senior bonds mature in roughly three years and carry annual interest rates of 4% to 4.3%. Solicitation began in late July and has now closed, according to an August 13 disclosure.

The inaugural securities were distributed through wholly owned @MetaplanetSec to individuals and companies under Japan's small-number private placement rules, marking the firm's broader push into Japan's yen-denominated credit market. The notes are unrated and do not trade on a public market. The bonds are unsecured, unrated and not principal-protected, while the issuer's financial position remains heavily exposed to $BTC price swings.

A New Funding Channel Alongside Equity

Metaplanet said BitBonds will sit alongside common stock, equity-linked securities and preferred shares as a core funding channel. Future issuance will depend on funding needs, market conditions and investor demand, with the company eventually considering registered public offerings.

Japan's benchmark interest rates have hovered near zero for so long that a 4% yield feels almost exotic to Japanese savers accustomed to near-zero returns on government debt and bank deposits. Metaplanet can continue to issue fresh rounds of BitBonds on different terms, potentially tapping into the demand for yen-denominated yield products as the Japanese government and central bankers shift toward sustained positive interest rates and household investing.

Metaplanet held about 43,000 $BTC by early July 2026, a reserve built through repeated purchases funded in part by earlier zero-coupon bond sales. The announcement came as CEO Simon Gerovich denied speculation that Metaplanet had sold bitcoin, saying a 5,014 $BTC movement was a routine custody transfer and its holdings remain at 43,000 $BTC.

Sources:
CoinDesk: Metaplanet Unveils BitBonds With $1.3 Million Private Debt Sale
CryptoNews: Metaplanet Unveils BitBonds With $1.3 Million Private Debt Sale
Crypto Briefing: Metaplanet Plans Bitcoin-Backed BitBonds With 4% to 6% Yields