Metaplanet plans to raise $880 million via share offering to fund fresh Bitcoin purchases

Hailed as Japan’s Strategy, Metaplanet intends to expand its corporate bitcoin treasury by issuing new shares targeted at offshore investors, according to a Wednesday announcement.

Metaplanet said it plans to raise 130 billion yen, about $880 million, through an international share offering and spend nearly all of the proceeds buying bitcoin over the next two months.

In a filing, the Tokyo-listed firm said an estimated 124 billion yen, or approximately $837 million, of the funds would be used to purchase bitcoin between September and October 2025, with 6.5 billion yen ($43.9 million) earmarked for bitcoin-related financial operations.

The disclosed raise follows a larger $3.7 billion stock issuance plan that stretches till 2027, and a string of recent purchases as the firm leans into a treasury strategy modeled on U.S. playbooks. Earlier this month, Metaplanet disclosed buys of 775 BTC for $93 million and 103 BTC for $11.7 million, continuing an accumulation spree that has pushed its holdings to one of the largest corporate bitcoin troves in Asia.

As of Aug. 25, Metaplanet held 18,991 BTC worth roughly $2.1 billion, The Block’s data dashboard shows. The company did not provide detailed pricing or timetable information for the share sale beyond the September–October deployment window.

Meanwhile, institutional bitcoin uptake has accelerated globally this year. Public companies now hold more than 770,000 BTC in aggregate, according to The Block’s data dashboard, a trend Metaplanet executives have cited in framing bitcoin as a long-term reserve asset. Michael Saylor’s bitcoin treasury giant, Strategy, remains the pack leader among corporate BTC buyers. The firm has a staggering 632,457 BTC stack valued at over $70 billion, following its latest 3,081 bitcoin scoop for $357 million.