Metaplanet To Raise $150M and Expand Bitcoin Treasury

• Metaplanet plans a $150 million raise to accelerate long-term Bitcoin treasury expansion efforts.
• New Class B preferred shares strengthen capital access while reducing shareholder dilution risks.
• Analyst Ted Pillows says Bitcoin treasury companies appear to still possess enough resources for more purchases.

Metaplanet is aiming to raise approximately $150 million to expand its Bitcoin Treasury. Its Board passed the new round of funding on November 20 and requires a final approval at an extraordinary shareholder meeting in December.

Metaplanet Details Its New Capital Plan

According to the firm’s CEO, Simon Gerovich, the raise will come from issuing new Class B preferred shares. The issuance will be carried out through an overseas third-party allotment. This is expected to generate more than ¥21.2 billion in total proceeds.

The company said the new financing round will be used mainly to purchase more Bitcoin between December 2025 and March 2026. Metaplanet also plans to allocate part of the funds to its Bitcoin income-generation business, which earns revenue through derivatives strategies.

Another portion will be used to redeem outstanding corporate bonds that mature in late December. The filing shows that Bitcoin purchases remain the company’s highest priority.

Metaplanet explained that the global financial system is entering a period of structural change. It believes traditional safe assets now face increased pressure from rising rates and geopolitical risk.

Also Read | Metaplanet Strengthens Bitcoin Treasury with $100 Million Loan

Metaplanet Doubles Down on Bitcoin Bet

The company claims that Bitcoin is a better store of value. This is due to the fact that its supply is fixed, and can be transferred anywhere across the globe with ease. According to the executives, these features imply that the company will keep accumulating Bitcoin faster. 

They believe this will help create a more powerful treasury in the long term. Metaplanet owns over 30,000 BTC and considers them as a necessary part of its corporate value.

Recent declines in its stock price pushed the share price below its Bitcoin-adjusted valuation. This encouraged Metaplanet to choose preferred shares instead of common stock. The company said this structure limits dilution while securing large capital commitments.

The Class B preferred shares carry a 4.9% fixed dividend and allow future conversion into common stock at ¥1,000 per share. This price is very high compared to the current price in the market.  

Market Responds to Metaplanet’s Continued Expansion

The structure will protect existing shareholders and encourage long-term collaboration with institutional investors who know the value of Bitcoin-based tools. The company further said it plans to list the new preferred shares on the Tokyo stock exchange, although this is yet to be approved.

Metaplanet expects the raise to support a stable cycle of Bitcoin growth. It said new BTC purchases will strengthen its reserve base. Income from derivatives will help fund preferred dividends and future expansion.

The company believes this approach will allow continuous accumulation regardless of market conditions. In his response to the move, Analyst Ted Pillows wrote, “It seems like Bitcoin treasury companies have some fuel left.”

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