- Metaplanet to raise $880 million overseas with up to 555 million shares
- ¥124 billion set aside for Bitcoin purchases in Sep-Oct 2025
- Current holdings stand at 18,991 BTC worth about $2.1 billion
Metaplanet has set out a detailed plan to raise new funds through an international share sale. The company is preparing to issue more than half a billion shares abroad, with nearly all of the proceeds directed toward expanding its Bitcoin treasury. The offering is scheduled to take place in September 2025, with pricing finalized between the 9th and 11th of the month. Out of the $880 million expected, about $835 million is allocated for Bitcoin purchases and another $45 million for an income strategy built around options. These steps come as the firm looks to strengthen its balance sheet, extend its long-term Bitcoin roadmap, and respond to a year marked by both rapid share gains and a sharp correction.
Metaplanet share sale and allocation
Metaplanet approved an international offering of up to 555 million new shares, raising around ¥130.3 billion, or about $880 million. The issue will take place abroad, mainly for institutional investors, and is not registered under the U.S. Securities Act. Final pricing is scheduled between September 9 and 11, 2025, with settlement to follow soon after. Of the total raised, approximately ¥124 billion, equal to about $835–837 million, is reserved for purchasing Bitcoin in September and October 2025. Another ¥6.5 billion, or about $45 million, will expand a unit called the Bitcoin Income Business, which generates revenue by selling covered call options on part of the company’s holdings. Morgan Stanley & Co. International and Cantor Fitzgerald & Co. are listed as bookrunners, signaling established distribution for the placement.
Metaplanet treasury growth and 2027 targets
At present, Metaplanet holds 18,991 BTC, valued around $2.1 billion depending on prevailing market levels. The company has recently added 775 BTC for $93 million and 103 BTC for about $11.7 million, steadily increasing its stack. These steps connect to a broader roadmap first outlined earlier this year: the “21 Million Plan” and “555 Million Plan.” Both projects outline a long-term target of over 210,000 BTC by 2027, equal to roughly one percent of total supply. The share sale fits this roadmap as a bridge from current assets toward that future goal. The structure is consistent with how the company frames its treasury policy: combine outright accumulation with options-based income to offset operational costs.
Metaplanet in the market and shareholder dynamics
The equity market has been volatile around the company’s strategy. Shares surged by more than 400 percent earlier this year, with a high point in June, but have since fallen by about 53%. At one point, the valuation even exceeded companies such as Kioxia Holdings and Tokyo Metro. Index upgrades are also notable: inclusion in the FTSE Japan Index and, by extension, the FTSE All-World Index from September 2025 increases passive exposure from global funds.
Shareholder votes remain key for governance. A meeting in Tokyo will consider authorizing preferred shares, combining debt and equity features, to further support financing flexibility. Eric Trump, who joined as a strategic adviser, is expected at the meeting, following earlier appearances at crypto-related events in Asia.
Metaplanet alongside global peers
The company is positioning itself among public firms with significant Bitcoin holdings. The group of listed companies now controls more than 775,000 BTC collectively, and Metaplanet is openly modeling parts of its strategy on U.S.-based peers that use capital markets to expand balance-sheet Bitcoin. By combining direct buying with income-generating structures, it seeks to build sustainability around its treasury.
Conclusion
The new raise outlines a simple sequence: ¥130.3 billion from new overseas shares, ¥124 billion to buy Bitcoin, and ¥6.5 billion to scale an income program. Current holdings stand at 18,991 BTC, and the goal is 210,000 BTC by 2027. The market reaction has been uneven, but index inclusion and a high-profile advisory team show that visibility is rising. The coming months, including the September pricing window and shareholder vote, will show how closely execution follows the roadmap that Metaplanet has already laid out.
Disclaimer
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