Japan’s Metaplanet to pursue additional Bitcoin purchases…up to $130 million

Metaplanet, dubbed “Japan’s Strategy,” is pursuing additional purchases of Bitcoin (BTC) worth up to $130 million.

Metaplanet said on the 29th (local time) that it held a board meeting and approved a plan to issue common shares and stock acquisition rights worth up to ¥20.7 billion (about $130 million).

Specifically, Metaplanet plans to raise up to about ¥12.2 billion through the issuance of common shares. Through stock acquisition rights, it intends to raise up to about ¥8.8 billion.

Metaplanet is pushing the large-scale fundraising to finance additional Bitcoin purchases. “The funds raised this time will be used, in line with the same policy as our previous fundraising, for additional Bitcoin purchases—our company’s core strategy,” Metaplanet said, adding that “through these measures, we will simultaneously achieve an increase in Bitcoin value and the generation of cash flow, and realize medium- to long-term growth and enhanced shareholder value.”

Metaplanet, which started out as a hotel company, transformed in 2024 into a Bitcoin-focused digital asset treasury (DAT) company. Metaplanet’s Bitcoin holdings were tallied at about 35,000 as of the end of last year. “Going forward, we plan to make maximizing Bitcoin per share our top priority, taking into comprehensive account market conditions and shareholder impact,” Metaplanet said.