- Metaplanet issues $15M zero-coupon bonds for BTC, boosting reserves to 6,796 BTC worth $ 697 M.
- Whale wallets (1K–10K BTC) sustain high accumulation as Bitcoin tops $103K amid tightening exchange supply.
- Bitcoin’s circulating supply hits 94.57%, with growing illiquidity driving upward price pressure and institutional activity.
Japanese firm Metaplanet Inc. has issued $15 million in zero-coupon bonds to finance additional Bitcoin acquisitions. The move reflects the company’s expanding commitment to BTC as a strategic treasury asset amid accelerating institutional accumulation trends.
Strategic Bond Issuance and Bitcoin Reserve Expansion
Metaplanet Inc. issued its 15th Series of Ordinary Bonds, approved during a board meeting on May 13, 2025. The issuance totals $15 million, structured with a $375,000 face value per unit. The bonds are non-interest-bearing, scheduled for redemption at par value on November 12, 2025, and offer early redemption options tied to stock acquisition rights. EVO FUND is the sole subscriber, and no collateral or guarantee backs the issuance, as disclosed by Metaplanet.
The proceeds will be used exclusively to acquire additional Bitcoin for corporate reserves, aligning with the company’s strategic focus on digital asset integration. The bond does not require a trustee and will be managed directly from Metaplanet’s Tokyo office under Japan’s Companies Act. This initiative reinforces Metaplanet’s long-term Bitcoin treasury strategy, positioning the company as a leader in digital asset adoption and hedging against fiat depreciation.
Treasury Behavior Aligns with Market-Wide Accumulation
Simultaneously, other market indicators suggest a different trend, institutions are accelerating BTC purchases across the board. Simon Gerovich stated in an update that treasury wallets added 1,796 BTC in the past week alone, pushing total holdings to 6,796 BTC, now valued at over $697 million.
The data reveals a steady increase in Bitcoin purchases since May 2024, with a sharp uptick from November. The accumulation pattern highlights corporate confidence in Bitcoin’s role as a long-term reserve asset, even during volatile market phases.
Whales Signal Continued Accumulation While Supply Tightens
Recent movements in the sector have reshaped priorities among large BTC holders. According to data from Glassnode, wallets holding between 1,000 and 10,000 BTC are still buying aggressively, with accumulation scores hovering near 0.9, while ultra-large cohorts (>10K BTC) have reduced activity to neutral levels.
This behavioral shift coincides with a broader supply squeeze. Davinci Jeremie emphasized that “no Bitcoin is left on exchanges,” noting that centralized reserves dropped from 3.1M to just 2.4M BTC over the past 12 months, an outflow of over 700,000 BTC. The reduction signals growing illiquidity across trading venues.
Bitcoin Price Tops $103K as Circulating Supply Nears Cap
CoinMarketCap data captured Bitcoin trading at $103,837.68 with a 24-hour gain of 0.89%, supported by a $2.06 trillion market cap. Trading volume hit $53.97 billion, indicating substantial institutional activity despite short-term volatility.
With 19.86 million BTC already mined, 94.57% of the total supply, the decreasing availability continues to exert upward pressure. Bitcoin’s session high represents a $3,300 intraday range, while wallet accumulation and bond-backed purchases like Metaplanet’s reinforce BTC’s tightening supply narrative.
