Thomas Daniels
Metaplanet—Japan’s foremost corporate Bitcoin treasury—has elevated its holdings to 20,000 BTC, acquiring 1,009 Bitcoin in a single transaction valued at ¥16.479 billion (approximately $112 million), according to a Monday announcement. The firm’s aggressive accumulation strategy positions it as the sixth-largest or seventh-largest public corporate holder globally, surpassing some U.S.-based peers.
Simultaneously, Metaplanet issued 11.5 million new shares last week following warrant exercises by major investor Evo Fund. Evo Fund paid $5.67 for 10 million shares and nearly $6 for 1.5 million shares, injecting a total of $65.7 million into the company—proceeds largely allocated to early redemption of roughly $20.4 million in debt. Evo Fund retains the rights to another 34.5 million shares.
This capital influx arrives amidst mounting share‑price pressure, with Metaplanet’s stock plunging around 54% since mid‑June, even as Bitcoin’s value rose modestly. Analysts warn that the share price decline could render future warrant exercises less attractive, straining liquidity and constraining fresh Bitcoin acquisitions.
To reinforce its strategy, Metaplanet is now pursuing a massive overseas equity raise: ¥130.3 billion (circa $884–$880 million) through a public offering. As of September 1, shareholders were set to vote on issuing up to 550 million preferred shares, potentially raising ¥555 billion (≈ $3.7 billion).
