Metaplanet has announced a significantly expanded international share offering that will see the issuance of 385 million new shares, far higher than the 180 million originally planned. The company priced the shares at ¥553 each, reflecting a 9.9% discount to its recent trading price of ¥614. The sale is expected to generate approximately ¥205 billion ($1.4 billion) in fresh capital, positioning Metaplanet to dramatically scale up its Bitcoin-focused treasury strategy.
According to the company’s announcement, the vast majority of the capital raised — about ¥183.7 billion — will be directed toward purchasing Bitcoin in the coming months, specifically between September and October 2025. An additional ¥20.4 billion will be used to support Metaplanet’s Bitcoin-related income-generating activities, such as options trading and other derivative strategies. By allocating nearly all proceeds to Bitcoin, Metaplanet has reinforced its commitment to establishing itself as a leader in corporate Bitcoin adoption, drawing comparisons to MicroStrategy in the United States.
The payment date for the newly issued shares is scheduled for September 16, 2025, with delivery of shares to investors on September 17, 2025. Once complete, the issuance will expand the company’s total outstanding shares from around 756 million to over 1.14 billion. Some estimates suggest the final number could be closer to 1.5 billion, depending on subscription levels. While this represents significant dilution for existing shareholders, it also reflects strong investor demand and highlights the firm’s willingness to sacrifice short-term equity value for long-term growth.
Metaplanet currently holds approximately 20,136 BTC, placing it among the largest Bitcoin-holding companies in Asia. With the infusion of new capital, the company expects to boost its holdings by about 62.5%, raising its reserves to nearly 32,700 BTC. Executives have also outlined aggressive long-term targets, including a goal of acquiring 100,000 BTC by the end of 2026 and 210,000 BTC by 2027. If achieved, this would give Metaplanet ownership of nearly 1% of Bitcoin’s maximum supply, a milestone that would further cement its role as a global leader in institutional Bitcoin investment.
The move comes at a time when Japan continues to grapple with a weak yen and a prolonged negative interest rate environment, conditions that have made traditional financial assets less attractive to corporations and investors. By turning to Bitcoin, Metaplanet is signaling confidence in digital assets as a long-term store of value and a hedge against macroeconomic pressures. Analysts suggest that while shareholder dilution may weigh on near-term valuations, the decision demonstrates strong conviction in Bitcoin’s role within a modern corporate treasury.
Industry observers note that Metaplanet’s latest capital raise could set a precedent for other Japanese firms considering exposure to Bitcoin as a strategic reserve asset. If the company succeeds in reaching its ambitious targets, it may influence broader corporate adoption in the region, reinforcing the trend of institutional alignment with cryptocurrency markets.
By aggressively scaling its Bitcoin reserves, Metaplanet is positioning itself as both a pioneer in Japan’s digital asset landscape and a potential benchmark for global institutional adoption. Its willingness to leverage equity markets to expand Bitcoin holdings highlights a strategy built on conviction, one that may reshape how corporations balance their treasuries in the years ahead.
