Metaplanet, the Tokyo-based investment company pursuing one of the most aggressive Bitcoin treasury strategies among public firms, said Wednesday it will raise 130.3 billion yen ($880 million) through an overseas share issuance.
The company will issue up to 555 million new shares, which would lift its total outstanding stock from 722 million to about 1.27 billion shares. Pricing will be set between Sept. 9–11, with settlement shortly after.
According to the filing, around $835 million of the proceeds will be allocated to Bitcoin purchases, expanding Metaplanet’s existing reserves of 18,991 BTC (valued at roughly $2.1 billion). The company said the move aims to shield against the yen’s weakness, mitigate inflation risks, and increase corporate value.
Another $45 million will fund the expansion of its “Bitcoin Income Business,” which earns revenue by selling covered call options on BTC holdings. Management said the program is already profitable and will scale further with the new capital.
The raise underscores Metaplanet’s broader strategy, which includes the “21 Million Plan” unveiled in April and the “555 Million Plan” announced in June. The firm has set a target of accumulating over 210,000 BTC by 2027 — more than 1% of the total Bitcoin supply.
Shares will be sold via overseas placements to institutional investors. The issuance is not registered under the U.S. Securities Act of 1933 and will not be offered publicly in the United States.
Separately, Metaplanet has been upgraded from a small-cap to a mid-cap in FTSE Russell’s September 2025 Semi-Annual Review, earning inclusion in the FTSE Japan Index and the FTSE All-World Index. The promotion follows its strong second-quarter results and positions the company alongside the world’s largest publicly traded firms.
