Japan’s Bitcoin treasury company, Metaplanet, has announced plans to raise over JPY 130 billion (approximately $880 million) via an international share offering, primarily to purchase additional Bitcoin.
The company revealed on August 27 that its board had authorized the release of up to 555 million new shares. If shareholders approve this measure in the September 1 meeting, Metaplanet’s total stock will increase from 722 million to approximately 1.27 billion shares.
The share offering will be conducted solely in international markets, with sales in the US restricted to Qualified Institutional Buyers pursuant to Rule 144A of the Securities Act of 1933.
This move aims to widen the investor base beyond Japan, attracting long-term institutional investment and enhancing liquidity in global markets.
Bitcoin purchases
Metaplanet intends to allocate roughly JPY 123.8 billion (around $835 million) from the upcoming funds to acquire Bitcoin between September and October 2025.
Company executives stated that the objective is to increase the Bitcoin net asset value (BTC NAV), which underpins its preferred shares, while maximizing BTC per share and overall returns.
Listed in Tokyo, the firm is currently the seventh-largest corporate Bitcoin holder, with 18,991 BTC valued at about $2.1 billion, as per Bitcoin Treasuries data.
The company’s accumulation strategy, initiated in April 2024, has effectively established it as a regional equivalent to US-based Strategy (formerly MicroStrategy).
In addition to direct purchases, Metaplanet plans to invest JPY 6.5 billion (around $44 million) into its “Bitcoin Income Business,” which generates returns by trading covered call options and increasing put option activities on its holdings.
This program is already profitable, and the company anticipates the investment will help scale operations until December 2025.
By merging aggressive accumulation with income-producing strategies, Metaplanet aims to position Bitcoin not only as a reserve asset but also as a recurring source of cash flow.
This strategy emphasizes the firm’s ambition to establish a treasury-first approach, strengthen relationships with global institutional investors, and create a more resilient financial foundation for sustained growth.
