Metaplanet has announced plans to increase its Bitcoin treasury by $837 million through an international share issuance. This decision reflects growing economic challenges in Japan.
Details of the Share Offering
On August 27, Metaplanet announced its intention to issue up to 555 million new shares in an international offering that could raise the equivalent of $837 million. Nearly all proceeds will be allocated to Bitcoin purchases between September and October. This marks the largest expansion of the company's Bitcoin treasury since it repositioned as a 'Bitcoin-first treasury company.'
Reasons Behind the Strategic Shift
Metaplanet's conviction in Bitcoin arises from a fundamental loss of faith in traditional financial structures. The company cites Japan's 'elevated levels of national debt, prolonged real negative interest rates, and ongoing depreciation of the yen' as primary catalysts for its strategic pivot.
Bitcoin Accumulation Strategy
As of August 25, Metaplanet already holds 18,991 BTC, which is valued at approximately ¥314.6 billion ($2.12 billion), making it the largest corporate Bitcoin holder in Asia. The company has been aggressively accumulating Bitcoin, consistent with its strategy of rapidly building its BTC holdings through equity raises.
The planned $837 million Bitcoin purchase is poised to be one of the largest single corporate acquisitions in Bitcoin's history, highlighting Metaplanet's shift towards innovative financial strategies.
