Metaplanet Files ¥555B Shelf to Raise $3.7B for 210K Bitcoin
Tokyo-listed Metaplanet has filed a ¥555 billion shelf registration to raise up to $3.7 billion through a continuous offering of perpetual preferred shares, split into Class A non-convertible and Class B convertible stocks, each valued at ¥277.5 billion. The shares carry a dividend of up to 6% annually, with issuance planned from August 2025 to August 2027. Proceeds will support an aggressive Bitcoin accumulation strategy, targeting 210,000 BTC by end-2027, including a revised 2026 goal of 100,000 BTC. Metaplanet currently holds 17,132 BTC (approx. $1.95 billion) after a recent 780 BTC purchase. The fundraise represents about 75% of its ¥729 billion market cap. Bitcoin trades near $113,400, down 2% over 24 hours.
Bullish
Metaplanet’s plan to raise capital specifically for purchasing large amounts of Bitcoin supports long-term demand. By targeting up to 210,000 BTC, this aggressive accumulation is likely to bolster market confidence and underpin Bitcoin prices. The structured offering of perpetual preferred shares signals strong institutional commitment, which could drive positive trader sentiment. In the short term, the share issuance itself may not directly affect Bitcoin price, but the anticipated buying pressure over the next two years is bullish. Historical precedent shows large institutional purchases often lead to price appreciation.