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

Metaplanet aims to generate around ¥130.3 billion ($880 million) through an overseas share issuance. From that amount, roughly $835 million has already been allocated for Bitcoin purchases. The company stated clearly that the bulk of the money will go directly into expanding its Bitcoin reserves, underlining how much it is committing to the asset.

Metaplanet Details Share Sale and Fund Allocation

The fundraising involves the issuance of 180 million new shares as an underwritten offering. Metaplanet said the total could rise to 375 million shares if needed. The final price will be set between September 9 and 11, with payments scheduled to settle soon after.

According to its announcement, proceeds from the sale will be directed toward purchasing Bitcoin. In addition, about ¥6.5 billion, equal to $43.9 million, has been set aside for what the company described as its Bitcoin Income Generation Business.

Metaplanet’s Long-Term Bitcoin Vision

Metaplanet explained the reasoning behind this focus. It pointed to the fixed supply of Bitcoin, the ability to store and transfer it across borders at relatively low cost, and the transparency of transactions that do not depend on third parties. The company believes these qualities make Bitcoin a key asset for its treasury.

The Bitcoin treasury firm also noted that building larger Bitcoin reserves could help shield the company from the decline of the yen and protect against inflation. At the same time, it expects that holding the cryptocurrency will contribute to the long-term value of the business.

This plan is part of a broader strategy that has unfolded over the year. In April, the company launched its “21 Million Plan,” an issuance of 210 million shares intended to finance Bitcoin acquisitions. In June, it followed with the “555 Million Plan,” authorizing up to 555 million additional shares for the same purpose. Both initiatives were aimed at expanding Metaplanet’s Bitcoin holdings, and the new overseas share issuance continues in the same direction.

Metaplanet currently holds 18,991 Bitcoin, worth about $2.1 billion based on recent valuations. The company has set a bold target of more than 210,000 Bitcoin by 2027. Achieving this would give it control of over 1% of the total supply of the cryptocurrency.

From Share Price Surge to Index Upgrade 

Up to this point, Metaplanet’s funding has mainly come through stock acquisition rights. That route delivered notable gains, with its share price climbing as much as 445% by mid-June. The rally even pushed its market value beyond major Japanese names such as Kioxia Holdings and Tokyo Metro.

The momentum has since faded. Following the peak in June, the company’s shares dropped by 53%. This sharp decline has led Metaplanet to explore different financing methods, with the overseas share issuance now providing a new path to support its Bitcoin purchases.

Despite the volatility in its share price, the company’s long-term strategy has remained unchanged. It continues to emphasize that raising capital will allow it to grow its Bitcoin reserves while insulating its treasury from currency weakness and inflation risks.

Alongside these financing efforts, Metaplanet has gained recognition in international markets. In FTSE Russell’s September 2025 Semi-Annual Review, the company was upgraded from small-cap to mid-cap status. That change has secured it a place in the FTSE Japan Index, which tracks medium and large companies.

Inclusion in these indices increases Metaplanet’s visibility in global markets, as investment funds that follow the indices will now hold its shares. This recognition, combined with its ongoing expansion of BTC holdings, is expected to strengthen the company’s position among larger listed firms.