Metaplanet Announces $880 Million Share Sale to Significantly Expand Bitcoin Holdings

Metaplanet, a Japanese firm known for its aggressive Bitcoin accumulation strategy, has announced plans to raise approximately $880 million through an overseas share issuance.

Almost all of that capital-an estimated $835 million-would be directed towards the company's aim of expanding its Bitcoin reserves, underscoring its deepening commitment to the leading cryptocurrency as a treasury asset.

The company revealed that it will initially issue 180 million new shares in an underwritten offering, with the option to increase this number to 375 million shares if investor demand is strong. Pricing for the new shares is expected to be finalized between September 9 and 11, with settlement to follow shortly thereafter.

Proceeds from the offering will primarily be allocated to purchasing Bitcoin. In addition, Metaplanet has set aside roughly ¥6.5 billion for what the company describes is a Bitcoin Income Generation Business, an ancillary project intended to monetize Bitcoin holdings through yield-generating strategies.

Metaplanet’s Bitcoin Vision

Metaplanet highlighted Bitcoin’s fixed supply, ease of cross-border transfer, relatively low transaction costs, and transparent ledger as compelling reasons for its treasury focus on the asset.

The company views Bitcoin not just as a speculative holding, but as a key store of value and inflation hedge, especially important for offsetting risks tied to the yen’s depreciation.

Currently holding approximately 18,991 BTC valued near $2.1 billion, Metaplanet has set an ambitious target to amass more than 210,000 BTC by 2027—a quantity that would represent over 1% of Bitcoin’s total circulating supply worldwide.

This latest share issuance follows earlier capital raises under Metaplanet’s “21 Million Plan” launched in April and the subsequent “555 Million Plan” announced in June, both focused on financing additional Bitcoin acquisitions.

Historically, much of Metaplanet’s funding has been raised through stock acquisition rights, which fueled a dramatic price surge. By mid-June, the company’s shares rallied over 445%, propelling its market capitalization above notable Japanese corporations such as Kioxia Holdings and Tokyo Metro.

However, this momentum has since faded, with shares retreating approximately 53% from their peak. The current overseas issuance represents a strategic pivot, with the overseas share issuance now a new path to support its Bitcoin purchases.

Despite the market volatility, the company's long-term strategy has remained the same. It continues to emphasize raising capital that would facilitate the company's purchase of Bitcoin reserves while insulating its treasury from currency weakness and inflation risks.

Metaplanet Secures A Place In The FTSE Japan Index

Beyond capital strategy, Metaplanet’s rising profile earned it an upgrade in FTSE Russell’s September 2025 Semi-Annual Review, moving the company from small-cap to mid-cap status.

This change has allowed the company to secure a place in the FTSE Japan Index, thus increasing its visibility among global investors and cements its standing among Japan’s larger publicly listed firms.

Metaplanet’s resolute pursuit to expand its Bitcoin treasury, even amid price fluctuations and capital market challenges, reflects a growing trend of corporate treasuries embracing Bitcoin as a strategic asset.

While aggressive accumulation carries risks tied to crypto-price volatility, it also signals confidence in Bitcoin’s maturation as a global store of value.

This bold move could inspire more firms seeking inflation protection and diversification to follow suit—yet it remains critical to balance long-term vision with prudent risk management in this rapidly evolving landscape.