Metaplanet Doubles Down on Bitcoin With $1.4B Share Sale

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Rommie Analytics

The Tokyo-based firm confirmed it will pour more than a billion dollars into BTC after expanding its global share sale, an offering that drew overwhelming demand from investors.

Instead of the planned 180 million shares, Metaplanet pushed the deal to 385 million, ultimately raising about $1.4 billion. The shares were priced at 553 yen ($3.75), giving buyers a discount of nearly 10% from market levels. The expansion lifts the company’s outstanding stock to over 1.1 billion shares, a milestone President Simon Gerovich celebrated on social media.

Most of the funds will go directly into Bitcoin accumulation. Roughly $1.25 billion has been earmarked for BTC purchases through the end of the year, alongside $139 million for Metaplanet’s income-generation business built on Bitcoin holdings. The strategy is part of an audacious plan: by 2027, the company wants to control 210,000 BTC, or around 1% of all coins that will ever exist.

Metaplanet already sits among the world’s largest corporate holders of Bitcoin. With more than 20,000 BTC valued at over $2.2 billion, it has leapfrogged U.S. miner Riot Platforms to claim the sixth spot globally and the top slot in Asia. In September alone, the firm added another 1,145 BTC worth $127 million.

This aggressive treasury strategy reflects a broader transformation. Last year, Metaplanet formally shifted to a Bitcoin-first balance sheet, treating BTC as its core reserve asset to hedge against macro uncertainty. Since then, the company has also begun generating yield from its holdings, recording nearly $13 million in Bitcoin-driven revenue in the second quarter of fiscal 2025.

Settlement for the share sale is set for mid-September, with additional allotments potentially lifting the total offering further. With its bold capital raise and relentless accumulation, Metaplanet has cemented itself as a corporate front-runner in the Bitcoin era, echoing the path carved out by MicroStrategy and other institutional adopters.


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