Metaplanet’s $1.38B Bitcoin Bet: Corporate Treasury Strategy Goes All-In on Digital Gold
Tokyo-listed Metaplanet just dropped a billion-dollar mic on traditional finance—announcing a massive $1.38 billion capital raise exclusively for Bitcoin acquisitions.
Why Institutions Can't Look Away
This isn't just another corporate treasury play—it's a full-scale assault on conventional asset allocation. While legacy funds debate bond yields, Metaplanet's moving nine figures into hard-capped digital scarcity.
The Bitcoin Standard Goes Corporate
Forget dipping toes—this is cannonball territory. That $1.38B war chest could swallow roughly 20,000 BTC at current prices, instantly making them a top-tier institutional holder overnight.
Market Ripples Ahead
Expect shockwaves across Asian markets as other listed companies face shareholder pressure to explain why they're not following suit. Because nothing highlights portfolio obsolescence like a competitor parking nine figures in appreciating hard money.
Wall Street's watching through spreadsheets while crypto natives just nod—another blue-chip finally gets that hedging against monetary decay beats optimizing quarterly earnings by 0.2%.
Share Offering and Capital Structure
The board approved the issuance of 385 million new shares at $3.75 (553 yen) per share. This sale will increase the company’s outstanding shares from 755.9 million to 1.14 billion, and it expects net proceeds of $1.38 billion.
The payment date is September 16, and delivery will follow on September 17. By choosing an international placement, Metaplanet seeks to broaden its investor base and reduce reliance on domestic capital.
Of the proceeds, $1.24 billion will go toward bitcoin purchases in September and October 2025. The company has said that building Bitcoin reserves shields its balance sheet from yen depreciation and inflation risks.
As of September 1, 2025, Metaplanet held 20,000 BTC, worth about $2.06 billion. Executives argue that Bitcoin provides long-term value growth while protecting assets from negative real interest rates in Japan.
Expanding Bitcoin Income Business
The firm will also allocate $138 million to its Bitcoin income business, mainly through options trading. This unit reported sales of $8.34 million in the second quarter of fiscal 2025. With the new capital, Metaplanet aims to achieve full-year profitability in the segment by December.
These moves strengthen the company’s position as Japan’s largest corporate Bitcoin holder. Moreover, they mirror strategies of several US-listed companies that use Bitcoin as a reserve asset.
On the other hand, crypto treasury firms show signs of strain as mNAV drops and share prices weaken. While still active, their reliance on equity highlights risks that could slow the once-unstoppable strategy.
