Japanese investment firm Metaplanet is poised to make a monumental move in the digital asset landscape, filing a shelf registration to potentially issue up to ¥555 billion ($3.7 billion) in perpetual preferred shares. This substantial capital raise is strategically designed to supercharge the company’s already aggressive Bitcoin acquisition strategy, setting a new precedent for corporate engagement with cryptocurrencies.
The shelf registration, which provides Metaplanet with the flexibility to raise capital in phases based on market conditions, is slated to run from August 2025 through August 2027. While this filing does not guarantee the immediate issuance of shares, it signals a clear long-term commitment from the Tokyo-listed firm to significantly bolster its Bitcoin treasury. This proactive approach underscores their dedication to becoming a major holder in the decentralized finance space.
Metaplanet’s current Bitcoin holdings stand at a substantial 17,132 BTC, a figure recently augmented by a strategic purchase of 780 BTC on July 28. At prevailing market prices, these holdings are valued at just under $2 billion. The ambitious long-term goal for the company is to accumulate an astounding 210,000 BTC by the close of 2027, positioning them among the most prominent corporate Bitcoin investors globally.
The proposed issuance, which represents approximately three-quarters of Metaplanet’s current ¥729 billion market capitalization, signifies a transformative step in scaling its Bitcoin treasury. This significant financial maneuver, however, remains contingent on securing shareholder approval, highlighting the importance of investor confidence in this bold digital asset financing strategy. The sheer scale of the proposed raise emphasizes the firm’s conviction in Bitcoin’s long-term value.
To facilitate this strategic expansion, Metaplanet has convened an Extraordinary General Meeting scheduled for September 1. Shareholders will vote on critical proposals aimed at increasing the firm’s authorized share count and establishing two distinct new classes of preferred stock, Class A and Class B. Each class is structured to potentially raise up to ¥277.5 billion, with an attractive dividend payout capped at 6%, offering a preferential return ahead of common stockholders.
In a recent statement, Metaplanet articulated that issuing Bitcoin-backed preferred shares would effectively address a noticeable gap in the market for equity financing directly linked to digital assets. This innovative financial instrument positions Metaplanet alongside other pioneering corporate Bitcoin holders, most notably MicroStrategy (formerly Strategy), which recently launched its own Bitcoin-backed share offering, yielding a 9% annualized return.
The cumulative impact of firms like Metaplanet and MicroStrategy on the cryptocurrency market is becoming increasingly significant. Combined, these forward-thinking companies now command a formidable portfolio exceeding $93 billion in BTC, according to recent estimates. Their continued Metaplanet Investment strategies and aggressive accumulation serve as a strong indicator of growing institutional confidence in Bitcoin as a strategic reserve asset.
This strategic capital raise by Metaplanet not only demonstrates a deep commitment to Bitcoin as a core treasury asset but also underscores a broader trend of institutional adoption within the digital economy. The move is expected to garner considerable attention from investors seeking exposure to the cryptocurrency market through traditional financial instruments, further bridging the gap between conventional finance and the rapidly evolving world of digital assets.
