Key Takeaways:
- Metaplanet Inc. added 1,009 Bitcoin (BTC) to its treasury, bringing the total treasury to 20,000 BTC valued at over $2 billion.
- The company proposed a capital raising plan to issue 550 million shares worth 130 billion yen ($884 million).
- Metaplanet’s shares have fallen by more than 50% since mid-June, raising funding concerns.
Asia’s largest Bitcoin (BTC) treasury firm, Metaplanet Inc., announced a significant milestone by crossing 20,000 BTC in holdings valued over $2 billion. The company expanded its BTC treasury on Monday by adding 1,009 BTC to its balance sheet.
From Hotels to BTC Treasury Giant
Formerly known as Red Planet Japan, the company has shifted away from its hospitality roots to become one of the world’s largest corporate holders of BTC. According to BitcoinTreasuries.net, Metaplanet now ranks seventh globally, cementing its place as Japan’s top BTC treasury company.
The firm’s growing crypto profile was recognized in September, when index provider FTSE Russell moved Metaplanet into the FTSE Japan Mid-Cap Index. The CEO and former Goldman Sachs trader, Simon Gerovich, called it “a major step in establishing the firm as Japan’s top Bitcoin treasury player.”
Metaplanet Targets $884 Million Capital Raise
The firm’s next big move depends on the shareholder meeting scheduled for today on September 1st, 2025. Shareholders will vote on a proposal to issue up to 550 million new shares overseas. The plan is expected to raise about 130 billion yen ($884 million), with the majority of proceeds to be allocated towards BTC acquisition. Moreover, Bloomberg reported that Eric Trump could be expected to attend the shareholder meeting mentioned above.
Market Reaction and Outlook on Metaplanet
Despite Monday’s milestone, Metaplanet shares fell 2.6% intraday in Tokyo trade, although the stock is still up 146% year to date (YTD). However, since mid-June, the company’s shares have fallen by more than 50%, despite BTC’s 2% growth during the same period.
Metaplanet’s funding strategy might be under threat due to its declining share prices. Metaplanet’s capital-raising model was dependent on higher share prices, which would enable funding through MS warrants held by its main backer, Evo Fund. However, when the stock trader lowers those warrants that cannot be exercised, they become less lucrative and put pressure on the company’s funding pipeline.
The shareholder approval will determine Metaplanet’s capital raising plans, which would eventually determine the scope of expansion for its BTC treasury.
