Metaplanet, the Tokyo-based firm that’s more into digital gold than actual gold, has just announced a plan that could make your head spin-or at least make you question the sanity of their boardroom meetings. They’re aiming to raise 130 billion yen (that’s a cool $880 million for those of us who can’t do math in yen) through an international share sale. But here’s the kicker: they’re planning to use most of that cash to buy more Bitcoin. Yes, you read that right. More Bitcoin. Because apparently, having a treasure chest full of digital coins isn’t enough.
Share Issuance and Allocation
In a filing that probably took longer to write than the average novel, Metaplanet revealed they’ll be issuing up to 555 million new shares. This will bump their total outstanding stock from 722 million to almost 1.27 billion. If you’re keeping score at home, that’s a lot of zeros. The share pricing will be decided sometime between September 9 and 11, 2025, with the settlement happening shortly after. It’s like a big, fancy game of “Let’s See How Much We Can Raise Before the Market Notices.”
Now, here’s where it gets really interesting. Out of the total funds, ¥124 billion (about $835 million) will go straight into buying more Bitcoin. The remaining ¥6.5 billion (around $45 million) will fund their “Bitcoin Income Business,” which, in layman’s terms, means they’ll be selling covered call options on their BTC holdings. Apparently, this is already a profitable venture. Who knew playing the market could be so lucrative?
Bitcoin Treasury Strategy
Currently, Metaplanet boasts a stash of 18,991 BTC, valued at roughly $2.1 billion. That makes them one of the biggest corporate Bitcoin holders in the world. Their strategy? To hoard as much Bitcoin as possible to protect against Japan’s weak yen, hedge against inflation, and, of course, increase their long-term corporate value. It’s like a digital version of Fort Knox, but with fewer security cameras and more internet trolls.
Their approach is reminiscent of US-based MicroStrategy, which has amassed over 632,000 BTC. Metaplanet’s ambitious “21 Million Plan” and “555 Million Plan” aim to push their holdings past 210,000 BTC by 2027. It’s a bold move, but then again, when you’re dealing with Bitcoin, bold moves are pretty much par for the course.
Recently, they’ve bolstered their position by acquiring 775 BTC for $93 million and 103 BTC for $11.7 million. This puts them in the league of other public firms holding over 775,000 BTC, solidifying their status as a major player in the Bitcoin market. It’s like they’re saying, “We’re not just playing the game; we’re rewriting the rulebook.”
Market Position and Index Inclusion
Despite a 53% drop in share price since June, Metaplanet’s stock has surged 445% this year. For a brief moment, their market cap even surpassed that of established Japanese firms like Tokyo Metro and Kioxia Holdings. The company’s stellar second-quarter performance earned them an upgrade from FTSE Russell, moving them from a small-cap to a mid-cap stock in their September 2025 Semi-Annual Review.
This means Metaplanet is now part of both the FTSE Japan Index and the FTSE All-World Index, putting them in the same league as major global players and boosting their visibility among international investors. It’s like being invited to the cool kids’ table at lunch, but with more spreadsheets and less cafeteria food.
Offshore Focus and Legal Compliance
The company confirmed that the offering will primarily target overseas investors and won’t be registered under the US Securities Act of 1933, making it off-limits to the US public. Morgan Stanley & Co. International and Cantor Fitzgerald & Co. have been tapped as bookrunners for the transaction. It’s a bit like hiring the best bouncers to keep the party going, but only for certain guests.
Metaplanet CEO Simon Gerovich noted that due to regulatory constraints, they can’t comment further while the offering is ongoing. It’s like he’s playing a high-stakes game of poker, but instead of cards, he’s dealing with regulatory bodies and international investors. Let’s hope he knows what he’s doing, because the stakes are higher than ever.
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2025-08-28 16:35