Crypto Bull Run 2026: Japan Stacks $2.7B in Bitcoin While Pepeto Presale Entries Race Before Listing

The next crypto bull run is taking shape beneath the headlines as Japan's Metaplanet launched BitBonds on August 13, raising ¥200 million in the country's first Bitcoin treasury yen bond while sitting on 43,000 BTC worth $2.7 billion, according to CoinDesk. Institutional treasuries are building positions for what comes next, and the retail wallets paying closest attention are doing the same thing one step earlier, inside presale windows where the returns compress an entire cycle into a single entry. With $10.6 million committed and wallets climbing daily, Pepeto (

) is where that capital is landing.

Metaplanet BitBonds: Japan's First BTC Treasury Yen Bond Raises ¥200 Million

Metaplanet's BitBonds launched as four bond series paying 4.0% to 4.3% annually, distributed through its own licensed subsidiary after acquiring Siiibo Securities, per TFTC. The bonds fund Bitcoin purchases from Metaplanet's regulated brokerage, giving Japanese investors yen exposure to BTC without holding crypto.

At 43,000 BTC bought at an average of $96,000, Metaplanet is carrying a $1.4 billion unrealized loss and betting the next crypto bull run erases it entirely. That is conviction. The early entry is what separates conviction from regret.