Japanese Bitcoin-focused investment firm Metaplanet Inc. announced on Wednesday that it has approved a major overseas fundraising plan to issue up to ¥180.3 billion ($1.2 billion) in new shares. The firm intends to allocate nearly ¥123.8 billion ($837 million) of the proceeds to expand its Bitcoin holdings, reinforcing its status as one of the world’s most aggressive corporate crypto buyers.
The Tokyo-listed company plans to issue up to 555 million new shares, potentially increasing its total outstanding shares by over 77% to approximately 1.27 billion. The offering will be conducted exclusively in overseas markets, with U.S. sales limited to qualified institutional buyers under Rule 144A.
Proceeds will primarily fund fresh Bitcoin purchases between September and October 2025. An additional ¥6.5 billion ($45 million) will support Metaplanet’s Bitcoin Income Generation unit, which earns revenue from selling options on its BTC treasury. That segment brought in ¥1.9 billion in Q2 revenue, helping the company post ¥816 million in operating profit.
Metaplanet’s Bitcoin reserves have already swelled to 18,991 BTC—worth over $2.14 billion—following aggressive acquisitions in August alone. The firm has added nearly 900 BTC over the past two weeks as part of its broader “555 Million Plan”, a bold target to hold 210,000 BTC by 2027, or 1% of Bitcoin’s total supply.
CEO Simon Gerovich, a former Goldman Sachs trader, has led Metaplanet’s transformation from a hotel operator into Asia’s top corporate Bitcoin holder. The strategy mirrors that of Strategy (formerly MicroStrategy) in the U.S., which pioneered the use of public markets to build a Bitcoin treasury.
Pending shareholder approval on September 1, the offering will dramatically increase Metaplanet’s capital base. With over 128,000 shareholders—up 1,000% year-over-year—and strong institutional interest, Metaplanet continues to position itself as “Asia’s MicroStrategy” in Japan’s increasingly crypto-friendly regulatory landscape.
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