Bitcoin News Today: Metaplanet Seeks ¥555 Billion to Expand Bitcoin Holdings 13x by 2027

Japanese investment firm Metaplanet has filed to raise up to ¥555 billion ($3.7 billion) through a new perpetual preferred share offering, signaling its commitment to aggressively expanding its Bitcoin holdings. The capital will be used to acquire 210,000 Bitcoin by the end of 2027, representing a near thirteenfold increase from its current holding of 17,132 BTC, which is valued at approximately $2 billion [2]. The offering, announced on August 1, 2025, includes two classes of preferred shares—Class A with fixed-income characteristics and a potential 6% annual dividend, and Class B with conversion rights to common stock via put options [1]. Approval is pending at a special shareholder meeting set for September 1, 2025 [2].

Since December 2024, Metaplanet has systematically built its Bitcoin treasury, expanding from under 4,000 BTC to over 17,000 BTC within four months, primarily through bond redemptions and stock rights exercises [2]. Notable recent transactions include purchases of 780 BTC for $92.93 million and 2,205 BTC for $238.7 million [2]. These actions have contributed to robust performance metrics, including a year-to-date BTC Yield of 430.2% as of July 18, 2025 [2].

The firm’s stock has also seen a sharp rise in value and trading volume, with shares reaching a market capitalization of 1.86 trillion yen ($12.65 billion) in June 2025—nearly double the figure in May. This surge placed Metaplanet among the top five most actively traded stocks on Tokyo’s prime market, outperforming established names like Toyota and Sony [2]. The firm’s two-tier preferred stock structure is designed to avoid further dilution of common shares and to offer investors both fixed-income and equity upside options [1].

Despite Metaplanet’s aggressive growth and transparency measures, such as CEO Simon Gerovich’s proof-of-reserves disclosure, the strategy has attracted skepticism. Analysts like Matthew Sigel from VanEck have warned about the dilutive effects of large-scale Bitcoin accumulation, while James Check from Glassnode has questioned the long-term viability of such strategies [2]. Legal risks are also present, as seen in MicroStrategy’s ongoing class-action lawsuit over its Bitcoin investments [2].

Metaplanet’s approach contrasts with other firms by avoiding speculative trading and focusing solely on long-term Bitcoin accumulation as a core business strategy. The company’s move aligns with broader trends in Japan, where falling long-term bond prices have driven institutional demand for alternative assets [2]. If the fundraising is approved, Metaplanet will have secured substantial resources to pursue its 2027 target, though it remains well below MicroStrategy’s current holdings of 597,325 BTC [2].

Sources:

[1] Metaplanet Files to Raise $3.7B via Preferred Stock Program to Fund Bitcoin Treasury. (2025). Cryptonews. https://coingape.com/metaplanet-seeks-3-7b-funding-more-bitcoin-buy/

[2] Metaplanet Announces EGM Agenda and Files ¥555 Billion Shelf Registration for Potential Issuance. (2025). Metaplanet Inc. https://www.ainvest.com/news/bitcoin-news-today-metaplanet-seeks-3-7b-yen-expand-bitcoin-holdings-preferred-shares-2508/

[3] Metaplanet Plans to Raise $3.7B to Expand Bitcoin Holdings. (2025). CoinGape. https://www.cryptotimes.io/2025/08/01/metaplanet-plans-to-raise-3-7b-expand-its-bitcoin-treasury/