Metaplanet Unveils $3.7B Stock Plan to Turbocharge Bitcoin Holdings
Metaplanet plans to raise $3.7B via preferred shares to fund a massive BTC accumulation campaign through 2027.
Metaplanet, Japan’s most prominent corporate Bitcoin holder, is doubling down on its crypto strategy with a bold plan to raise $3.7 billion through a multi-year stock offering. The Tokyo-listed firm revealed on August 1 that it has filed a shelf registration to issue perpetual preferred shares, with proceeds earmarked exclusively for purchasing Bitcoin.
The capital raise—equivalent to approximately 75% of Metaplanet’s current market capitalization of 729 billion yen—could reshape the company’s financial trajectory. Under the shelf registration, Metaplanet will be allowed to issue shares in phases between August 2025 and August 2027, contingent on market conditions. The offering includes dividends of up to 6% annually, depending on investor demand and prevailing economic factors.
"The Company intends to actively pursue equity financing as part of its 'Bitcoin Strategy,' which aims to acquire 210,000 BTC by the end of 2027," Metaplanet stated in its filing. The firm described the preferred shares as a pioneering financial vehicle designed to support this accumulation goal.
Metaplanet’s current Bitcoin holdings stand at 17,132 BTC, valued around $1.95 billion at prevailing market rates. Its most recent acquisition came on July 28, when it purchased 780 BTC, underscoring its aggressive stance.
Despite the headline-grabbing nature of the announcement, Metaplanet clarified that there are no immediate plans to issue the preferred shares. The firm noted that the registration provides flexibility, but that actual issuance will depend on strategic timing and investor appetite.
This approach mirrors the financial engineering pioneered by Strategy (formerly MicroStrategy), which has issued billions in equity and debt to fund its own Bitcoin war chest. Strategy recently raised $2.5 billion via a perpetual preferred stock offering paying a floating 9% dividend, a move that appears to have influenced Metaplanet’s capital strategy.
The rising number of public companies holding Bitcoin suggests a maturing institutional adoption curve. From Tesla’s early $1.5 billion BTC purchase to a growing chorus of firms turning to crypto as a treasury asset, Bitcoin is increasingly seen as a viable long-term store of value.
Metaplanet’s ambitions—if fully realized—would make it one of the largest corporate Bitcoin holders globally, joining a small but expanding club of companies betting on the digital asset as a strategic reserve.
