Metaplanet’s Bold $3.7B Gamble: Doubling Down on Bitcoin with Massive Stock Issuance

Tokyo-based investment firm Metaplanet is making waves—and raising eyebrows—with plans to issue $3.7 billion in new shares. The goal? Supercharge its Bitcoin treasury reserves as institutional crypto adoption hits fever pitch.

Why This Matters

This isn't just another corporate Bitcoin play. At $3.7B, Metaplanet's proposed issuance dwarfs most crypto-native firms' market caps—a staggering bet on BTC's long-term dominance despite recent volatility.

The Bigger Picture

Wall Street's still nursing its 2022 crypto hangover, but Asia's institutional players keep ordering shots. Metaplanet's move follows Japan's relaxed crypto accounting rules, proving once again that when traditional finance zigzags, savvy investors hodl.

Closing Thought

Nothing says 'conviction' like betting billions on an asset class that still gives CFOs night sweats—but since when did disruptive gains come from playing it safe?

Details of the proposed issuance

The shelf registration, effective from August 9, 2025 to August 8, 2027, WOULD allow Metaplanet to issue shares in tranches as market conditions permit.

This MOVE is designed to support Metaplanet’s goal of amassing 210,000 BTC by 2027.

The proposed raise represents roughly 75% of the company’s current market cap of 729.45 billion yen.

Shareholder approval

The issuance is not guaranteed.

Metaplanet clarified:

“No specific plan for the issuance of the Preferred Shares is currently in progress, and it is uncertain whether such issuance will take place.”

Key to the proposal is a vote at the Extraordinary General Meeting on September 1 to increase authorized shares from 1.61 billion to 2.723 billion.

If approved, two new classes of perpetual preferred shares (Class A and B) could be created, prioritizing up to 6% dividend payouts over common shareholders, and splitting potential issuance equally between the classes.

Current bitcoin treasury position

Metaplanet currently holds 17,132 BTC, with its most recent purchase of 780 BTC occurring on July 28.

At current market prices, these holdings are valued at $1.95 billion. For ongoing updates on the company’s bitcoin reserves, see the Metaplanet bitcoin treasury tracker.

Focus on bitcoin accumulation

If the capital raise is approved and executed, Metaplanet would significantly increase its bitcoin reserves and further solidify its position among public companies holding large amounts of bitcoin.