Metaplanet and K33 Enhance Bitcoin (BTC) Investment Through Strategic Moves

In a calculated effort to boost its Bitcoin procurement targets, Metaplanet, located in Japan, issued $21 million in interest-free bonds to the Evo Fund on May 29, succeeding a previous $50 million fundraising initiative. These zero-coupon bonds, designated as the 17th series, have a face value of $525,000 and are scheduled to mature on November 28, 2025.

By not accruing interest, Metaplanet mitigates the financial burden typically associated with borrowing funds.

Metaplanet Expands Bitcoin Reserves

The official documentation indicates that Evo Fund holds the option to redeem bonds early with a five-day notice, either entirely or in increments of $525,000. Furthermore, future redemptions can be tied to subsequent funding initiatives involving the same investor.

The bonds are unsecured and lack guarantees or administrative oversight, adhering to Japanese corporate legislation. Payment transactions will occur at the company’s headquarters in Tokyo.

This fundraising initiative is a part of Metaplanet’s broader strategy to secure 10,000 BTC by the conclusion of 2025. So far this year, the company has raised a total of $135.2 million, which includes prior fundraising rounds in February ($25.9 million), March ($13.3 million), and earlier in May ($25 million).

Currently, Metaplanet holds approximately 7,800 BTC, valued at around $840 million, positioning it as the 11th largest corporate Bitcoin holder globally, with an average acquisition price of $91,340 per BTC. In March, it utilized cash-secured put options to purchase 696 BTC and followed that with an additional 145 BTC in April for $13.6 million.

Metaplanet is not alone in its Bitcoin strategy; a similar path is being pursued by K33 in Scandinavia.

K33 Enters the Corporate Bitcoin Arena

K33, a cryptocurrency brokerage based in Oslo, recently disclosed its intentions to start holding Bitcoin on its balance sheet after raising 60 million SEK ($6.22 million). As announced on May 28, the funds were obtained through interest-free convertible loans and a new issuance of shares and warrants.

The Norwegian company confirmed that the entirety of the raised funds will be allocated for the purchase of Bitcoin, potentially enabling the acquisition of up to 57 BTC at current market rates. They secured 45 million SEK ($4.66 million) through loans maturing in June 2028, alongside 15 million SEK ($1.5 million) via equity and warrants. Investors who convert their warrants before March 2026 will receive additional free warrants, which could further increase K33’s total raise to 75 million SEK ($7.77 million).

In its Q1 financial report, CEO Bull Jenssen highlighted that K33 is collaborating with other Nordic firms focused on Bitcoin treasury management and aims to utilize its Bitcoin holdings to develop related services, including collateralized lending options.