Metaplanet Plans $880 Million Share Sale, Commits $835 Million to Bitcoin

Metaplanet has announced an overseas share issuance worth approximately ¥130.3 billion ($880 million), with the vast majority of the proceeds—around $835 million—earmarked for expanding its Bitcoin holdings. The company emphasized that this move reflects its long-term commitment to positioning Bitcoin as a central pillar of its treasury strategy.

Details of the Share Issuance

The fundraising plan involves issuing 180 million new shares, with the potential to expand to 375 million if investor demand warrants it. The final pricing is expected to be determined between September 9 and 11, with settlement scheduled shortly afterward.

Beyond its direct Bitcoin purchases, the company has allocated ¥6.5 billion (about $43.9 million) toward its Bitcoin Income Generation Business. This initiative is intended to create revenue streams tied directly to its growing digital asset reserves.

A Bold Bitcoin Vision

Metaplanet justified its strategy by pointing to the core qualities of Bitcoin: fixed supply, ease of cross-border transfers, relatively low transaction costs, and transparency without reliance on intermediaries. The company argues that these features make Bitcoin not only a strong store of value but also a hedge against currency depreciation and inflation—particularly relevant as the yen continues to weaken.

The firm has already launched several large-scale initiatives to expand its Bitcoin treasury. In April, it introduced the “21 Million Plan,” followed in June by the “555 Million Plan,” both designed to raise funds for aggressive Bitcoin accumulation. Together with the new overseas issuance, these efforts underline the company’s long-term goal of holding more than 210,000 Bitcoin by 2027—over 1% of the total supply. At present, Metaplanet holds 18,991 BTC valued at approximately $2.1 billion.

Market Reactions and Strategic Positioning

The company’s aggressive Bitcoin-focused strategy has sparked significant volatility in its stock price. Metaplanet shares surged as much as 445% by mid-June, pushing its market capitalization beyond well-established Japanese firms such as Kioxia Holdings and Tokyo Metro. However, the rally quickly lost momentum, with the stock falling 53% from its peak. The new overseas share issuance represents an attempt to diversify its funding methods while maintaining its Bitcoin accumulation trajectory.

Despite these fluctuations, Metaplanet has continued to gain recognition in global markets. In FTSE Russell’s September 2025 Semi-Annual Review, the firm was upgraded from small-cap to mid-cap status, securing a place in the FTSE Japan Index. This inclusion raises its profile internationally, as index-tracking funds will now hold its shares.

Strengthening Its Role in Global Markets

For Metaplanet, the combination of capital raising, strategic Bitcoin acquisitions, and index inclusion marks a pivotal step in solidifying its presence in both traditional and digital financial markets. While its share price remains volatile, the company’s long-term strategy is clear: grow its Bitcoin reserves at scale, protect against macroeconomic risks, and establish itself as one of the largest institutional holders of the cryptocurrency.