Catenaa, Wednesday, September 03, 2025- Metaplanet Inc. shareholders approved an $884 million capital-raising plan on Monday as the Tokyo-based Bitcoin treasury firm faces a funding crunch following a 54% drop in its stock since mid-June.
The extraordinary meeting in Shibuya authorized the sale of up to 550 million new shares overseas and the issuance of preferred stock, sources told Reuters.
The financing pressure has slowed the company’s “flywheel” mechanism, which relies on rising share prices and warrant exercises to fund Bitcoin purchases.
Experts warned the mix of corporate equity and leveraged instruments adds fragility not present in Bitcoin itself, potentially undermining Metaplanet’s ability to meet its aggressive accumulation targets.
Despite the challenges, Metaplanet announced it purchased 1,009 BTC for about $112.2 million, bringing total holdings to 20,000 BTC.
The firm has achieved a year-to-date BTC yield of 486.7% and is now the world’s sixth-largest public Bitcoin treasury company, surpassing Riot Platforms. CEO Simon Gerovich outlined a goal of owning 210,000 BTC by 2027, though analysts note the capital runway may be limited.
Eric Trump, serving as a strategic adviser since March, attended Monday’s meeting alongside Gerovich. The company also announced a new mission to develop over-collateralized, scarce digital financial instruments in Japan.
Metaplanet is set for inclusion in the FTSE Japan Index, upgraded to mid-cap status, reflecting the firm’s growing integration of Bitcoin into mainstream equity portfolios. Shares closed Monday at $5.65 (¥831), down 5.46% amid market volatility, while the firm continues to expand its Bitcoin holdings per share at a faster rate than competitors.
