Metaplanet Bets Big on Bitcoin Amid Japan’s Economic Uncertainty

Metaplanet, a Japanese bitcoin treasury firm, is raising $1.4 billion through the issuance of 385 million new shares to fund its ongoing bitcoin purchasing strategy. The offering, which values the shares at approximately $3.75 each, is part of a strategic shift by the company to use bitcoin as its primary reserve asset, according to filings and statements released in late August. The firm plans to allocate roughly $1.25 billion of the proceeds to purchase bitcoin, with an additional $138,000 earmarked for a "Bitcoin Income Generation Business," which includes activities such as trading bitcoin options.

As of September 1, 2025, Metaplanet holds more than 20,000 bitcoins, a result of its continuous acquisition program since the beginning of 2024. The company reported generating $1.9 billion in sales revenue from its bitcoin options trading business in the second quarter of 2025, underscoring the financial viability of its treasury strategy. On September 8, 2025, the firm added another $15.19 million worth of bitcoin to its holdings, bringing its total BTC balance to 20,136 BTC. This move positions Metaplanet as the sixth-largest publicly traded bitcoin treasury company globally, following entities such as Strategy, Mara, XXI, Bitcoin Standard Treasury Company, and Bullish.

The decision to pivot to bitcoin is attributed to Japan’s economic conditions, including high national debt, negative interest rates, and a depreciating yen. In a statement, the company emphasized its belief that bitcoin can serve as a stable and resilient asset in the context of these macroeconomic challenges. Metaplanet’s share price closed at $4.49 on September 10, 2025, representing a 2.8% decline, with a market capitalization of $3.6 billion. The capital raise highlights a growing trend of corporate adoption of bitcoin as a strategic reserve asset, particularly among companies in emerging markets or regions with unstable economic environments.

This development aligns with broader shifts in global attitudes toward bitcoin. A recent survey by the Cornell Bitcoin Club found that bitcoin’s average global trust score stands at 4.67 out of 10, with notable variations across regions. Nigeria leads in trust, while Japan ranks at the bottom. In ten politically unstable or emerging nations—such as Brazil, Indonesia, Kenya, and Nigeria—respondents expressed greater trust in bitcoin than in their own national governments. This trend suggests that bitcoin may be gaining traction as an alternative store of value in regions with weaker institutional trust.

The fundraising also reflects a broader strategic initiative by Japanese entities to re-engage with the bitcoin ecosystem. While Japan once accounted for a significant share of global bitcoin trading volume—largely through now-defunct exchange Mt. Gox—the country has seen declining adoption in recent years. Efforts like Metaplanet’s treasury strategy and initiatives such as Tokyo Bitcoin Base—a co-working and event space—aim to reinvigorate Japan’s role in the global bitcoin narrative. These efforts focus on education, accessibility, and legitimizing bitcoin as a mainstream financial asset rather than a speculative or illicit tool.

Metaplanet’s continued accumulation of bitcoin underscores the potential for corporations to leverage digital assets as part of their broader financial strategy. The firm’s success in generating revenue through options trading further demonstrates the evolving utility of bitcoin in corporate portfolios. As institutional and corporate adoption continues to rise, the firm’s move may signal a broader shift in how companies view and manage their reserves in an increasingly digital financial landscape.