Bitcoin Acquisition Venture Metaplanet Plans to Secure an Additional $3.7 Billion for More Cryptocurrency Buys
Metaplanet Inc., a publicly traded company listed on the Tokyo Stock Exchange, has announced a significant move to increase its authorized shares. The corporation aims to issue up to 1.11 billion additional shares, which could potentially raise $3.7 billion through the issuance of perpetual preferred shares.
This capital infusion is a crucial part of Metaplanet's ambitious Bitcoin acquisition strategy. The company plans to grow its Bitcoin treasury from the current 17,132 BTC holdings, valued at approximately $1.95 billion, to a staggering 210,000 BTC by 2027.
The new share classes, Class A and B Perpetual Preferred Shares, will pay prioritized dividends to attract investors while preserving common shareholder interests. Perpetual Preferred Shares are a type of stock that pays a fixed dividend to investors for as long as the company remains in business, without a maturity date or a specific buyback date.
Shareholders of Class A Perpetual Preferred Shares will receive payment first upon the firm making a profit. This structure is designed to make these shares "safer," although they are less flexible compared to common shares.
The company has already made substantial strides in the Bitcoin market. Metaplanet is currently ranked 7th on BitcoinTreasuries with 17,132 bitcoins, ahead of competitors like Galaxy Digital Ltd., which holds 12,830 BTC. Metaplanet is also nearing the 18,430 stash of Trump Media, further solidifying its position in the market.
The total potential raise is ¥555 billion ($3.7 billion) through the shelf registration, effective from August 9, 2025, to August 8, 2027. This means that Metaplanet can issue shares in tranches depending on market conditions, providing capital raising flexibility for Bitcoin purchases.
This financing initiative positions Metaplanet to substantially expand its Bitcoin reserves, reinforcing its status as a major public company holder of Bitcoin and impacting its financial structure by increasing equity and potentially enhancing shareholder value aligned with its BTC growth objectives.
However, the move also comes with potential implications for the company's financials. The increased equity capital from the issuance would bring new dividend obligations on the preferred shares (up to 6%). There is also a possibility of dilution of existing shares.
Metaplanet's focus on Bitcoin accumulation and its relative performance metrics like BTC Yield—a measure of BTC holdings growth per fully diluted share—indicate that the company is positioning its financial strategy around Bitcoin appreciation and shareholder alignment with this asset accumulation. The company's approach signals a shift toward being a BTC-centric financial entity, using equity markets innovatively to fund digital asset growth rather than traditional business operations.
The Extraordinary General Meeting led by the Board of Directors has already decided to amend the Articles of Incorporation to accommodate this share increase. The issuance of these shares is subject to shareholder approval at a September 1 Extraordinary General Meeting and is not guaranteed.
[1] Metaplanet Inc. Announcement, [Link] [2] BitcoinTreasuries, [Link] [3] Financial Times, [Link] [4] MarketWatch, [Link] [5] Reuters, [Link]
- To support its Bitcoin acquisition strategy, Metaplanet Inc. plans to issue up to 1.11 billion additional shares, intent on growing its Bitcoin treasury from 17,132 BTC to a vast 210,000 BTC by 2027, with these new Class A and B Perpetual Preferred Shares.
- The capital raised from the issuance of these shares could potentially reach $3.7 billion, easing Metaplanet's investment in Bitcoin while redefining its financial structure and, potentially, increasing shareholder value.
