Tokyo-based Metaplanet (3350) has issued $ 3.6 billion (about $ 24.8 million) in bonds to finance further purchases of Bitcoin (BTC) after the Japanese hotel company surpassed 5,000 BTC.

According to a message from the company, the newly issued bonds were sold entirely to Evo Fund. The bonds have no interest and will be redeemed at face value on October 31, 2025, unless they have been repaid earlier at the request of the bondholder.

The funds are earmarked specifically for BTC acquisition in accordance with the plan revealed earlier this year when Metaplanet detailed a number of share purchase rights.

The company expects to finance the redemption of the bond through capital raised through the exercise of its share purchase rights, which means that the ultimate repayment can rely on investor appetite on the metaplan’s equity -bound instruments.

If the revenue from these rights exceeds certain thresholds, the Metaplanet reserves the right to repay parts of the bond early. Metaplanet shares closed on 428 yen each, an increase of 8.6% in the last trade session.