Metaplanet to raise $1.38B for massive Bitcoin expansion
Metaplanet Inc., a Tokyo-listed investment firm, has unveiled plans to raise more than $1.38 billion (204.1 billion yen) through an overseas share sale to accelerate its Bitcoin-focused treasury strategy.
The company’s board approved the issuance of 385 million new shares at $3.75 (553 yen) per share, expanding its outstanding shares from 755.9 million to 1.14 billion. The payment date is set for September 16, with delivery following a day later. Executives said the international placement is designed to diversify the investor base while reducing reliance on domestic capital markets.
Bulk of proceeds earmarked for Bitcoin purchases
Metaplanet plans to allocate $1.24 billion of the proceeds toward Bitcoin acquisitions in September and October 2025, underscoring its commitment to positioning BTC as a strategic reserve asset. As of September 1, the company already held 20,000 BTC valued at $2.06 billion.
Management has argued that Bitcoin provides long-term growth potential while shielding its balance sheet from yen depreciation and Japan’s negative real interest rates. With the planned expansion, Metaplanet is poised to further solidify its role as the country’s largest corporate Bitcoin holder, echoing the aggressive treasury strategies pioneered by U.S. firms such as MicroStrategy (now Strategy).
Investment into Bitcoin income business
Alongside direct Bitcoin accumulation, Metaplanet will invest $138 million into its Bitcoin income division, primarily focused on options trading. The unit reported $8.34 million in Q2 sales and aims to reach full-year profitability by December 2025 with the new capital infusion.
The company’s dual approach—expanding reserves while building income streams—positions it as one of Asia’s most aggressive corporate adopters of Bitcoin. Still, the strategy carries risks: crypto treasury firms have recently faced pressure as market net asset values declined and share prices weakened, raising questions about sustainability. Despite those headwinds, Metaplanet’s latest move signals unrelenting confidence in Bitcoin’s role as a corporate reserve asset and financial hedge.
Recently we wrote that Metaplanet is approaching a 500% year-to-date yield on its 2025 Bitcoin strategy after disclosing another major acquisition.
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