Tokyo-listed investment firm Metaplanet Inc. has approved a major capital raise of approximately ¥20.7 billion (roughly $137 million) through a third-party allotment of new shares and stock acquisition rights. The company announced the decision following a board meeting on January 29, 2026, with the primary goal of expanding its Bitcoin (BTC) treasury and supporting its Bitcoin-related business operations.
The financing structure involves two key components. First, Metaplanet will issue approximately 24.5 million new common shares at a price of ¥499 per share, raising about ¥12.2 billion ($78 million). Second, the company will issue stock acquisition rights that, if fully exercised, could convert into an additional 15.9 million shares at ¥547 per share, raising a further ¥8.8 billion ($56 million). The payment and allotment date is set for February 13, 2026, with the exercise period for the rights running from February 16, 2026, to February 15, 2027.
The offering is specifically targeted at overseas investors, and any transfer of the stock rights will require board approval. Dylan LeClair, Metaplanet's Bitcoin strategy director, explained the rationale on social media platform X, stating, "The financing structure enables Metaplanet to capitalize upon the volatility of its common stock to sell shares at a premium to market while raising capital today."
Metaplanet has outlined a clear plan for the use of proceeds. Approximately ¥14 billion will be allocated directly to purchasing more Bitcoin. Another ¥1.5 billion will support its Bitcoin income generation business, while the remaining ¥5.1 billion is earmarked for partial debt repayment. The company stated that the debt repayment is intended to restore its borrowing capacity and preserve flexibility for future capital actions.
The firm reiterated its long-term bullish stance on Bitcoin, citing its scarcity and portability as a medium- to long-term store of value, particularly against the Japanese yen. Metaplanet aims to become one of the top global corporate Bitcoin holders by August 2026 and plans to execute its purchases in stages rather than all at once. Its holdings will be managed through its subsidiary, Metaplanet Lightning Capital.
This move solidifies Metaplanet's identity as a "Bitcoin Treasury Company" and continues a trend of public firms raising capital to accumulate Bitcoin. According to Bitcoin Treasuries, Metaplanet is currently the fourth-largest corporate Bitcoin holder globally, with 35,102 BTC worth over $3 billion. The company stated that the impact of this offering on its 2026 financial results is expected to be minimal.
