Metaplanet is preparing to raise up to $150 million to increase its Bitcoin holdings, even as the broader crypto market experiences sharp volatility. The company plans to use the capital for additional BTC purchases as well as general corporate needs. Executives argue that declining prices present ideal conditions to build a stronger long-term Bitcoin reserve.
A recent notice confirms that Metaplanet has approved the issuance of new Class B Preferred Shares through a third-party allotment. Shareholders will vote on the final approval in December. Part of the issuance will also be offered to selected foreign investors. According to company leaders, this structure helps limit dilution and protects current common shareholders.
The new Class B Preferred Shares come with quarterly dividend payments linked to Japan’s reference interest rate, JPY TONA, plus a fixed margin. Dividends will be paid in March, June, September, and December. Metaplanet said this model is designed to appeal to institutional investors while supporting its long-term Bitcoin strategy.
CEO Simon Gerovich has emphasized that Metaplanet is not competing with Bitcoin ETFs. Instead, both pursue distinct approaches to Bitcoin accumulation. The company’s plan is heavily focused on consistent BTC purchases, especially during periods of market weakness, which it considers essential for building a resilient treasury.
Metaplanet views Bitcoin as long-term protection against inflation and currency decline. Management believes that accumulating BTC across all market cycles is necessary to preserve value and strengthen its financial foundation. The company’s strategy is similar to the approach used by Strategy under Michael Saylor, which continues to expand its Bitcoin reserves regardless of market conditions.
The capital raise comes at a time when Bitcoin prices have fallen sharply and market sentiment is negative. Some analysts predict that more downside is possible. Veteran trader Peter Brandt recently noted that Bitcoin could fall toward $58,000 if selling pressure increases.
A portion of the new funds will also be used to retire certain stock acquisition rights from earlier rounds, specifically the 28th, 29th, and 32nd series. Metaplanet says this move creates a more stable capital structure that better aligns with long-term shareholder interests. The company is also considering applying to list the new Class B Preferred Shares on the Tokyo Stock Exchange, though approval is not guaranteed. If listed, the offering could draw institutional investors seeking Bitcoin-linked yield opportunities.
