Metaplanet Inc. (TYO: 3350, OTCQX: MTPLF) has completed its first international share offering, raising approximately $1.4 billion (¥212.9 billion) in gross proceeds, according to a company filing on September 10, 2025.
The stock jumped 16% in Tokyo trading following the announcement, signaling strong investor confidence in the company’s Bitcoin-centric growth strategy.
Capital allocation and bitcoin expansion
The majority of funds, ¥183.7 billion (roughly $1.4 billion USD), will be deployed to purchase Bitcoin between September and October 2025. This move aligns with Metaplanet’s strategy to continuously grow its Bitcoin treasury, which currently totals 20,000 BTC. The firm now ranks as the sixth-largest public company by Bitcoin holdings. Making another big step from June overtaking Coinbase. The remaining ¥20.4 billion (around $160 million USD) will support Metaplanet’s Bitcoin income-generation operations, including options trading. In Q2 FY2025, this segment generated ¥1.9 billion ($15 million USD) in revenue, supplementing the company’s BTC accumulation efforts.
Market impact
Metaplanet issued 385 million new shares at ¥553 per share, generating gross proceeds of ¥212.9 billion. After fees, net proceeds amount to ¥205.3 billion (approximately $1.6 billion USD). Following the offering, total shares outstanding will increase to 751.19 million, with a market capitalization of $467.24 billion.The stock surged 16% in Tokyo and has maintained momentum in global markets. Metaplanet CEO Simon Jerovic emphasized the company’s mission to hedge against inflation, negative interest rates, and yen depreciation by using Bitcoin as a reserve asset.
He specified that the firm hopes to set a precedent for other publicly listed companies in Japan and Asia aiming to integrate digital assets into treasury management.
Simon Jerovic on his X:
Implications for the bitcoin market
The scheduled Bitcoin purchases could represent one of the largest corporate-driven spot acquisitions in Japan this year. Increased demand from such corporate treasuries may influence market liquidity and price stability in the short term. Corporate accumulation strategies carry inherent market risks, including price volatility and exposure to derivative trading practices.
However, Metaplanet faces significant competition from larger entities such as Strategy, which holds over 630,000 BTC. Despite these challenges, Metaplanet's strategic pivot from a hotel operator to a Bitcoin-focused entity has yielded impressive results, including a 30.7% increase in its Bitcoin per share metric for the quarter ending September 1, 2025. As Metaplanet continues to execute its aggressive acquisition strategy, its ability to outpace larger competitors will depend on market conditions, strategic execution, and investor sentiment.
Matvii Diadkov
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