Metaplanet Upsizes Capital Raise To $1.4 Billion To Buy More Bitcoin

TLDR

• Metaplanet allocates ¥183.7B of $1.4B raise to purchase around 12,590 more BTC.
• Company expands BTC holdings from 20,136 to 32,726 BTC, a 62.5% increase.
• Stock drops 10% after offering, but up 500% over the past year.
• Total outstanding shares rise to nearly 1.5 billion after issuing 385 million new shares.

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Metaplanet has increased its planned capital raise to $1.4 billion in a move aimed at expanding its Bitcoin reserves. The Tokyo-based firm will use most of the funds to buy Bitcoin, reinforcing its strategy of treating the cryptocurrency as a core treasury asset. Despite a drop in stock price following the announcement, Metaplanet’s long-term share performance remains strong.

Expanded Share Offering to Fund Bitcoin Purchases

Metaplanet has finalized an international share offering that will generate ¥205 billion, which is about $1.4 billion. The company increased the size of the offering from 180 million to 385 million shares. The issue price was set at ¥532 per share, pushing the total number of outstanding shares to nearly 1.5 billion.

Out of the ¥204.1 billion in net proceeds, ¥183.7 billion is allocated for direct Bitcoin purchases. The remaining ¥20.4 billion will be used to support its Bitcoin income generation business. This marks one of the largest public company commitments to Bitcoin in Asia.

The company confirmed that it expects to purchase the additional Bitcoin between September and October. Based on current market prices, Metaplanet could add approximately 12,590 BTC, which would increase its total holdings from 20,136 BTC to around 32,726 BTC. This marks a 62.5% increase in Bitcoin holdings.

Bitcoin Strategy Strengthens as Reserve Asset

Metaplanet has continued to build its image as a “Bitcoin-first” institution. It previously approved an $884 million plan to increase its Bitcoin reserves. By converting its treasury into Bitcoin, the company is reducing its exposure to traditional fiat currencies.

Company representatives stated, “This strategy positions Bitcoin as the company’s key financial reserve, supporting long-term balance sheet goals.” Analysts say this move shows growing interest in Bitcoin among public firms, especially in markets like Japan where crypto adoption among listed firms has been limited.

This new investment reflects Metaplanet’s broader strategy of reshaping its balance sheet around digital assets. The company believes Bitcoin offers stability and value over time, especially amid ongoing global monetary challenges.

Share Price Declines After Announcement but Remains Higher Year Over Year

Following the announcement, Metaplanet’s share price dropped nearly 10% in a single trading session. The stock fell from ¥682 to close at ¥614. Some investors sold shares due to the dilution caused by the new issuance.

However, long-term performance data shows the stock remains strong. According to TradingView, shares are up 64% since the start of 2025. Over the past year, Metaplanet’s stock price has risen by more than 500%. Over a five-year period, the stock has gained over 800%.

Market analysts note that investor interest remains despite the short-term drop. The sharp decline in stock value was expected due to the nature of large share offerings, which often reduce the value of existing shares.

Metaplanet’s fundraising move adds to a growing trend among corporate entities using digital assets to hedge financial positions. While the company has taken on risk by converting fiat to Bitcoin, it continues to attract attention from global investors watching Bitcoin-related corporate strategies.

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