Catenaa, Thursday, August 07, 2025- Japanese Bitcoin investment firm Metaplanet filed a shelf registration on August 1 to raise up to 555 billion yen ($3.6 billion) through issuing perpetual preferred stock.
The move supports the company’s plan to acquire 210,000 Bitcoin by 2027, a thirteenfold increase from current holdings.
Metaplanet also proposed amendments to increase authorized shares to 2.72 billion and to establish two classes of perpetual preferred shares: Class A, senior non-convertible shares offering up to 6% dividends, and Class B, convertible shares with put options.
Neither class grants voting rights, and issuance depends on shareholder approval and regulatory clearance.
Since December 2024, Metaplanet aggressively expanded its Bitcoin treasury from under 4,000 BTC in March to over 17,000 BTC worth about $2 billion by July.
The firm’s average purchase price has risen to approximately $100,504 per Bitcoin. CEO Simon Gerovich has emphasized transparency through proof-of-reserves, contrasting with peers like MicroStrategy.
Metaplanet’s stock trading volume surged to 1.86 trillion yen ($12.65 billion) in June, surpassing major Tokyo-listed companies such as Toyota and Sony.
The shares have gained over 345% year-to-date amid rising institutional demand for Bitcoin exposure, fueled by Japan’s bond market instability.
