Rebecca Cruz Metaplanet announces plans to raise $135 million through Class B preferred shares to strengthen its Bitcoin treasury strategy amid market volatility.
Metaplanet Prepares Fresh $135 Million Fundraise for Bitcoin Expansion
Tokyo-based Metaplanet is gearing up for another bold move in its ongoing Bitcoin accumulation campaign, unveiling plans to raise roughly $135 million through the issuance of new Class B perpetual preferred shares. The initiative marks a significant step in the company’s evolving Bitcoin treasury strategy, designed to strengthen its capital reserves and increase its exposure to the world’s leading cryptocurrency.
According to filings with the Tokyo Stock Exchange, Metaplanet will issue approximately 23.6 million Class B shares, priced at 900 yen (about $5.71) each. The planned issuance, expected to bring in over 21.2 billion yen, will be executed through a third-party allotment to international investors. Final approval for the program will be sought at an extraordinary shareholder meeting scheduled for December 22, 2025.
The structure of these preferred shares offers a fixed annual dividend of 4.9% on a notional value of around $6.34, with quarterly payments anticipated once the dividend schedule begins. Investors will have the option to convert these shares into common stock at the same $6.34 conversion rate, providing a path to equity participation in Metaplanet’s long-term Bitcoin-focused strategy.
Strategic Financing Shift to Strengthen Bitcoin Treasury
The planned capital raise comes as part of a broader restructuring of Metaplanet’s financing instruments. The company has announced the cancellation of its 20th through 22nd stock acquisition rights and will introduce new 23rd and 24th series rights, to be issued to the Cayman Islands-based Evo Fund. The changes are intended to streamline Metaplanet’s capital framework and align future funding more closely with its Bitcoin treasury goals.
Metaplanet’s leadership has branded this latest equity initiative as “Mercury,” a program designed to reinforce the firm’s commitment to long-term Bitcoin accumulation. Chief Executive Officer Simon Gerovich described the new share class as a major step forward in scaling the company’s Bitcoin holdings, highlighting the fixed 4.9% dividend and ¥1,000 conversion price as core features of the offering.
Following the announcement, Metaplanet’s stock gained 3.2% in Tokyo trading, a modest rebound after months of declines. Despite the short-term boost, the company’s share price remains down more than 60% over the past six months, reflecting investor caution amid ongoing crypto market fluctuations.
Deepening Commitment Despite Unrealized Losses
Metaplanet’s latest fundraising plan underscores its unwavering commitment to Bitcoin accumulation, even as its current holdings remain under pressure. The firm currently ranks as the fourth-largest public company globally in Bitcoin ownership, holding 30,823 BTC valued at approximately $2.82 billion.
Data from BitcoinTreasuries.NET shows that Metaplanet’s average purchase price sits at around $108,036 per Bitcoin, leaving the company with an unrealized loss of over 15% based on current market prices. The downturn comes after Bitcoin retreated from its October highs, pressuring balance sheets across corporate holders with significant crypto exposure.
Nevertheless, the company’s decision to raise fresh capital for additional Bitcoin purchases signals a steadfast belief in the asset’s long-term potential. Analysts view this move as part of a broader institutional trend where firms are repositioning to accumulate during market corrections, anticipating future price recovery as global liquidity conditions evolve.
A Long-Term Vision Anchored in Bitcoin
Metaplanet’s strategy mirrors a growing corporate trend toward Bitcoin-centric treasury management, a concept popularized by early adopters such as MicroStrategy. By leveraging innovative financing mechanisms and preferred share structures, Metaplanet aims to sustain continuous Bitcoin acquisition while maintaining liquidity and shareholder value.
The new Class B shares are designed to attract a mix of income-seeking and crypto-focused investors, providing fixed returns while offering optionality through conversion rights. Additionally, Metaplanet has retained a call option allowing it to redeem shares if market conditions push its stock above 130% of the liquidation preference for 20 consecutive trading days. This clause gives the firm flexibility to manage its capital structure dynamically as Bitcoin market sentiment shifts.
With this ambitious raise, Metaplanet appears intent on positioning itself as a major player in corporate Bitcoin adoption across Asia. The timing of the move suggests confidence in a potential rebound of digital asset markets heading into 2026, supported by renewed institutional interest and increasing global Bitcoin ETF inflows.
As the firm’s restructuring gains momentum, its ability to execute the Class B issuance successfully could determine the scale of its next phase of Bitcoin accumulation. Whether this bold play translates into long-term gains remains tied to the broader trajectory of the cryptocurrency market, but Metaplanet’s conviction remains unmistakable.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
