Metaplanet Subsidiary Bitcoin Japan Captures $60M via Bonds to Buy BTC Despite Bear Market

Bitcoin Japan, a subsidiary of the Asian corporate Bitcoin adopter Metaplanet, announced a financing agreement to begin acquiring the cryptocurrency for its corporate treasury. The Tokyo-based, publicly listed firm disclosed on Thursday that it had approved a convertible bond deal with EVO Fund to raise 9.66 billion yen ($59.5 million). The company plans to spend over 662 million yen ($4.08 million) on its first Bitcoin transaction.

Bitcoin Japan operates Bitcoin-focused media, data platforms, and events to promote understanding of the leading cryptocurrency in Japan and contribute to its global ecosystem, according to its website. Its parent company, Metaplanet, is a publicly traded firm that follows the strategy of Nasdaq-listed Strategy (formerly MicroStrategy) by buying and holding Bitcoin on its balance sheet. Metaplanet began purchasing the asset in 2024.

Metaplanet now holds 43,000 Bitcoin, worth over $2.8 billion, making it one of the largest corporate Bitcoin treasuries globally. However, its stock has declined more than 50% year-to-date. The announcement comes as other treasury companies see their shares slide; Strategy's Nasdaq-listed stock has fallen nearly 80% over the past year.

Why are companies still buying Bitcoin during a market downturn?

Despite the bearish environment, firms like Bitcoin Japan view the current price as an opportunity to start or expand their crypto treasuries. Last year, the business model of buying and holding digital assets with spare cash suffered as crypto prices plunged. Some little-known public companies that rushed to announce Bitcoin purchases in 2025 to boost stock prices have since had to sell holdings as the price slumped. However, Bitcoin Japan sees the downturn as a chance to accumulate.

Japan has long been a hub for crypto enthusiasts—former major exchange Mt. Gox was based in Tokyo before its 2014 hack and closure. Lawmakers are now advancing regulation: last week, Japan's parliament passed a law amendment to classify cryptocurrency assets as "financial assets," subjecting them to stricter rules and potentially paving the way for Bitcoin ETFs in the country. The regulation is expected to take effect within a year.

Perguntas frequentes

A Bitcoin Japan venderá seus Bitcoins em breve? Não há indicação de venda imediata. A empresa anunciou apenas o início de suas aquisições para o tesouro, seguindo a estratégia de sua controladora Metaplanet de manter Bitcoin a longo prazo. O mercado de baixa é visto como oportunidade de compra.

Como a nova regulação japonesa afetará a Bitcoin Japan? A classificação de criptomoedas como "ativos financeiros" trará regras mais rígidas, mas também pode abrir caminho para ETFs de Bitcoin no Japão. Isso pode aumentar a legitimidade e a adoção institucional, beneficiando empresas como a Bitcoin Japan que promovem o ecossistema cripto no país.