Bitcoin News Today: Metaplanet’s Bitcoin Gambit: Dilution for Dominance in Digital Gold

Metaplanet has approved a $1.2 billion share issuance plan to fund an aggressive Bitcoin (BTC) acquisition strategy and expand its Bitcoin Income Business. The company announced it will issue up to 555 million new shares in overseas markets, potentially increasing its total outstanding shares from 722 million to approximately 1.27 billion. The share price will be determined between September 9–11, with payments settling shortly thereafter. Of the $1.2 billion raised, approximately $835 million will be allocated to Bitcoin purchases, while $440 million will support the company’s Bitcoin Income Business, which generates revenue through covered call options on its holdings [1].

Metaplanet’s existing Bitcoin treasury stands at 18,991 BTC, valued at around $2.1 billion, and it has set a target to hold over 210,000 BTC by 2027—representing more than 1% of Bitcoin’s total supply. The firm’s Bitcoin acquisition strategy is aimed at hedging against Japan’s weak yen, mitigating inflationary pressures, and enhancing corporate value. The company’s Bitcoin Income Business, which already produces profit, will be scaled up with the newly raised capital. Covered call options, a financial instrument where the company sells options on its Bitcoin holdings, are used to generate additional income by allowing investors the right—but not the obligation—to purchase shares at a fixed price if exercised [2].

The capital raise is being conducted through overseas placements to institutional investors and is not registered under the U.S. Securities Act of 1933, meaning it will not be offered publicly in the United States. Metaplanet’s CEO, Simon Gerovich, stated in a social media post that the company cannot comment further on the offering while it remains active [1]. The company has previously announced similar funding plans, including the “21 Million Plan” in April and the “555 Million Plan” in June, both of which are part of its long-term strategy to become one of the largest institutional holders of Bitcoin.

Simultaneously, Metaplanet has been upgraded from a small-cap to a mid-cap stock in FTSE Russell’s September 2025 Semi-Annual Review and will now be included in the FTSE Japan Index. This inclusion means the company will also automatically enter the FTSE All-World Index, which tracks large publicly traded companies globally. The upgrade is seen as a reflection of Metaplanet’s strong Q2 performance, during which the company outperformed the TOPIX Core 30, a major Japanese stock benchmark [5]. The inclusion in these indices is expected to attract passive institutional capital flows into Bitcoin through Metaplanet, as index-tracking funds will be required to purchase the stock, indirectly increasing Bitcoin exposure for global investors.

In recent months, Metaplanet has expanded its Bitcoin holdings significantly, having added 103 BTC to its reserves in early August, bringing the total to 18,991 BTC [5]. The company has also issued 49,000 stock acquisition rights in the week of August 18–22, resulting in the issuance of 4.9 million new shares and a total share count of 722 million. While this dilutes the ownership of existing shareholders, it provides capital to continue its Bitcoin accumulation strategy. Metaplanet has reported year-to-date gains of approximately 187% in August, far outpacing the 7.2% appreciation of the TOPIX Core 30 [4]. Analysts suggest that its inclusion in major indices signals growing institutional acceptance of Bitcoin treasury strategies and could pave the way for other crypto-forward companies to enter traditional equity benchmarks [5].

As Metaplanet continues its aggressive Bitcoin acquisition and diversification strategy, it is positioning itself as a key player in the intersection of traditional finance and digital assets. With a growing investor base and strategic index inclusion, the company appears to be capitalizing on the increasing institutional interest in Bitcoin, leveraging its unique business model to generate both capital appreciation and yield from its crypto holdings.

Source:

[1] Metaplanet to Raise $1.2B, $835M for Bitcoin Buys (https://cointelegraph.com/news/metaplanet-raise-1-2b-bitcoin-purchases)

[2] Metaplanet plans to raise over 800 million dollars, mainly ... (https://www.chaincatcher.com/en/article/2201139)

[3] Should you use covered calls to generate more income ... (https://fifthperson.com/covered-calls-more-income/)

[4] Bitcoin treasury firm Metaplanet graduates to FTSE Japan ... (https://cointelegraph.com/news/metaplanet-added-ftse-japan-all-world-stock-indices)

[5] Metaplanet Joins FTSE Japan Index, Continues to Stack Bitcoin (https://finance.yahoo.com/news/metaplanet-joins-ftse-japan-index-063327830.html)

[6] Metaplanet Joins FTSE Japan Index: Upgraded to Mid-Cap (https://www.mitrade.com/insights/news/live-news/article-3-1065652-20250825)