Bitcoin Adoption, IPO Plans, and Wealth Storage with Jack Mallers

Twenty One Capital CEO Jack Mallers discusses adding bitcoin ahead of listing plans, going public in 3Q, and argues that Bitcoin is the best way to store wealth into the future. Mallers believes that Bitcoin's potential as a store of value and its decentralized nature make it an attractive investment for the future.

Metaplanet, a Japan-based investment firm, has announced plans to raise up to $1.2 billion through an international share issuance, with a significant portion allocated toward Bitcoin (BTC) purchases. The company, which currently holds 18,991 BTC in its corporate treasury—valued at approximately $2.1 billion—intends to use $835 million of the proceeds to further expand its Bitcoin holdings [1]. The remaining $440 million will be directed toward its “Bitcoin Income Business,” an initiative that generates revenue by selling covered call options on its BTC portfolio [1].

The equity offering includes the issuance of up to 555 million new shares, which would increase Metaplanet’s total outstanding stock from 722 million to approximately 1.27 billion shares. The issue price is expected to be finalized between September 9 and 11, with settlement to follow shortly after. The firm emphasized that the offering will be conducted through overseas placements to institutional investors and is not registered under the US Securities Act of 1933, meaning it will not be publicly offered in the United States [2].

Metaplanet’s aggressive Bitcoin acquisition strategy aligns with its broader goal of becoming one of the world’s largest corporate Bitcoin holders. The company has set a target of accumulating over 210,000 BTC by 2027, representing more than 1% of Bitcoin’s total 21 million supply. This strategy is part of Metaplanet’s long-term vision to protect against inflation and the weakening Japanese yen while enhancing corporate value through Bitcoin’s appreciation [3]. The firm’s “Bitcoin Income Business,” already in operation, is expected to benefit from the additional capital, allowing for the expansion of option strategies on its BTC holdings [4].

In parallel, Metaplanet has received a significant market endorsement, with its inclusion in the FTSE Japan Index following a strong second-quarter performance. The upgrade from a small-cap to a mid-cap stock in FTSE Russell’s September 2025 Semi-Annual Review has also secured the company’s automatic addition to the FTSE All-World Index. This inclusion is expected to attract passive capital flows from traditional financial markets into Bitcoin, offering indirect exposure to the cryptocurrency for investors tracking the index [1]. Metaplanet’s 187% year-to-date stock performance, compared to the TOPIX Core 30’s 7.2% appreciation, highlights the company’s outperformance against Japan’s blue-chip benchmarks [2].

The move underscores a growing trend of institutional adoption of Bitcoin as a strategic reserve asset. Metaplanet’s shift from a hotel operator to a Bitcoin-focused treasury firm in 2024 has positioned it as Japan’s largest BTC treasury company by holdings, surpassing major US-based firms such as Coinbase and Tesla. The firm’s CEO, Simon Gerovich, has indicated plans to use part of the BTC stash to acquire income-generating businesses, including a potential digital bank or related financial services. This expansion strategy reflects Metaplanet’s ambition to establish a diversified, Bitcoin-centric business model with long-term growth potential [3].

Reference List:
[1] https://www.ainvest.com/news/bitcoin-news-today-metaplanet-aims-1-bitcoin-supply-2027-2508/
[2] https://www.ainvest.com/news/bitcoin-news-today-metaplanet-aims-1-bitcoin-supply-2027-2508/
[3] https://www.ainvest.com/news/bitcoin-news-today-metaplanet-aims-1-bitcoin-supply-2027-2508/
[4] https://www.ainvest.com/news/bitcoin-news-today-metaplanet-aims-1-bitcoin-supply-2027-2508/