Japanese investment firm Metaplanet has announced plans to raise up to ¥555 billion ($3.7 billion) through the issuance of perpetual preferred shares, with the proceeds intended to expand its Bitcoin treasury. The company filed a shelf registration for the offering, which will remain active from August 2025 through August 2027, providing flexibility to raise capital in stages based on market conditions. The shares will offer an annual dividend of up to 6%, prioritizing preferred shareholders over common ones [2].
Metaplanet aims to accumulate 210,000 BTC by the end of 2027 as part of its ongoing Bitcoin strategy. As of July 28, the firm holds 17,132 BTC, including a recent addition of 780 BTC, which values the company’s Bitcoin holdings at nearly $2 billion. This proposed capital raise accounts for about 75% of the firm’s current ¥729 billion market cap, reflecting its aggressive commitment to Bitcoin as a core asset [2].
The firm has scheduled an Extraordinary General Meeting for September 1 to seek shareholder approval for increasing its authorized share count and creating two new classes of preferred stock—Class A and B. Each class is expected to raise up to ¥277.5 billion [2]. Metaplanet stated that issuing Bitcoin-backed preferred shares is intended to address a gap in the market for equity financing tied directly to digital assets, aligning with similar moves by firms like Strategy, which previously raised $2.5 billion through a Bitcoin-backed offering [2].
Metaplanet’s Bitcoin holdings have grown significantly, from under 4,000 BTC in March 2025 to over 17,132 BTC by July 2025. The firm’s average purchase price now stands at $100,504, indicating a consistent bullish outlook despite Bitcoin’s recent volatility. At the time of reporting, Bitcoin traded at $113,444, down 2% in the previous 24 hours [2].
Analysts have suggested that continued corporate accumulation, combined with global monetary trends, could push Bitcoin toward $130,000 by late 2025. Matrixport noted that potential U.S. fiscal pressures following Congress’s return from recess in September could also boost demand for hard assets like Bitcoin [2]. Meanwhile, markets are currently pricing in a 60% chance that the Federal Reserve will maintain interest rates at its next meeting on September 17, according to CME Group data [2].
Source: [1] ZyCrypto (https://zycrypto.com/metaplanet-japans-biggest-corporate-bitcoin-holder-to-raise-additional-3-7-billion-to-accelerate-btc-buying-spree/)
[6] AInvest (https://www.ainvest.com/news/bitcoin-news-today-metaplanet-buy-210-000-btc-2027-3-7b-preferred-share-offering-2508/)
