Metaplanet posts $1.25B first-half BTC valuation loss, plans more bond funding

Metaplanet, a Japan-listed Bitcoin accumulation company, said it posted a first-half mark-to-market loss on BTC of 184.297 billion yen ($1.25 billion), while announcing a BitBonds program to issue unsecured corporate bonds to support its Bitcoin strategy and broaden its investor base. The company said the first BitBonds issuance will total about 200 million yen ($1.25 million), with a maturity of about three years and an annual interest rate of 4.0% to 4.3%. Metaplanet said it will decide whether to carry out additional BitBonds offerings and determine their size based on market conditions, funding needs and investor demand, while planning over the medium to long term to build a public bond issuance framework. The company added the first-half BTC valuation loss mainly reflected an accounting adjustment tied to temporary price fluctuations. Metaplanet currently holds 43,000 BTC worth $2.8 billion, making it the world’s third-largest corporate Bitcoin holder among listed companies.