Metaplanet Launches BitBonds with 4.3% Coupon in $1.3M Private Sale

Highlights:

• Metaplanet raised ¥200 million through four private BitBonds placements carrying 4.0% to 4.3% annual coupons.
• The three-year bonds add fixed-rate debt to Metaplanet’s existing equity and preferred-share funding channels.
• Metaplanet still holds 43,000 BTC after Simon Gerovich called a 5,014 BTC transfer to routine custody. 

Metaplanet has added a new debt product to its funding mix after launching a continuing corporate bond program in Japan. The Tokyo-listed Bitcoin treasury company completed four private placements on August 13, raising about ¥200 million, or roughly $1.3 million. 

BitBonds Add a New Fixed-Rate Funding Route

Metaplanet said the first BitBonds comprise its 21st through 24th unsecured bond series. Altogether, the placements raised 200 million yen, equal to $1.3 million. Each series carries an annual coupon between 4.0% and 4.3%. Moreover, the bonds mature in about three years.

Metaplanet Securities handled the placement under Japan’s small-number private placement rules. The company acquired Siiibo Securities in July and later renamed it Metaplanet Securities. Therefore, the sale marks the first initiative under the integrated operation. Previously, the platform supported more than 100 bond issues from over 40 issuers.

*Notice Regarding the Establishment of a New Bond Issuance Program, "BitBonds", and the Completion of the Inaugural Issuance* pic.twitter.com/a6ZYh7b4LW

— Metaplanet Inc. (@Metaplanet) August 13, 2026

BitBonds now join shares, equity-linked securities, and preferred shares within Metaplanet’s funding mix. In addition, future series will reflect financing needs and investor demand. Market conditions will also shape pricing, maturity, and offering size. Eventually, Metaplanet may consider public offerings, though it has not approved one.

Future BitBond series may carry different sizes, maturities, and coupon rates. Metaplanet said funding needs, market conditions, and investor demand will guide each offering. Metaplanet Securities will manage solicitation, allocation, and administration. 

New Bonds Rely on Metaplanet Credit

Despite their branding, the first bonds carry no Bitcoin price link or Bitcoin collateral. Instead, investors rely on Metaplanet’s credit strength for interest and principal payments. The senior bonds are unsecured, unguaranteed, and unrated. Likewise, the company does not protect principal or guarantee liquidity before maturity.

Bitcoin still matters to Metaplanet’s finances, since the asset dominates its treasury strategy. On August 13, first-half net sales reached 4.94 billion yen, up 133.7% annually. Operating profit reached 3.33 billion yen, representing a 136.3% increase. However, a noncash Bitcoin valuation loss drove a 182.77 billion yen net loss.

On June 30, Metaplanet reported total assets of 418.18 billion yen and net assets of 340.88 billion yen. It also held 43,000 BTC. Moreover, the company had drawn $414 million from a $500 million Bitcoin-collateralized credit facility. Unlike the new bonds, that facility gives lenders priority rights over pledged Bitcoin.

Bitcoin Holdings Stay Unchanged After Wallet Move

The bond launch followed on-chain transfers that triggered speculation about Bitcoin sales. CEO Simon Gerovich said Metaplanet moved 5,014 BTC between custodial addresses during routine treasury operations. He added that the company sold no Bitcoin during the process. As a result, Metaplanet’s holdings stayed at 43,000 BTC.

We transferred 5,014 BTC between Metaplanet custodial addresses over the past 24 hours. This was a routine custody operation. No bitcoin was sold, and our holdings remain 43,000 BTC.

All of our addresses are published, which is why the transfers were observable in real time.…

— Simon Gerovich (@gerovich) August 12, 2026

Gerovich said the transfer represented about $322 million in Bitcoin and cost around $8 in network fees. Earlier tracker reports had flagged movements from known company wallets and fueled selling speculation. However, the CEO rejected that interpretation. Metaplanet completed a similar custody rearrangement involving roughly 4,986 BTC in March.

Meanwhile, the company’s Bitcoin position places it among the largest listed corporate holders globally. Metaplanet’s reported average acquisition price stands near $96,191 per Bitcoin. At the time of this writing, Bitcoin was trading around $63,400, leaving the treasury position below its average purchase cost.