In a move that would make even the most stoic accountant blush, Metaplanet has raised $135 million to further indulge its Bitcoin obsession, because why not? 🤑
Metaplanet, affectionately dubbed “Asia’s MicroStrategy” by those who enjoy comparing apples to oranges, is doubling down on its Bitcoin holdings with the fervor of a gambler on a winning streak. 🃏
The Japanese firm, in a display of financial acrobatics, announced plans to raise ¥21.249 billion (approximately $135 million) through Class B preferred shares. The goal? To buy more Bitcoin, of course, and to fund income-focused strategies tied to the cryptocurrency. Because nothing says “prudent investment” like pouring money into a digital asset known for its wild mood swings. 🎢
Metaplanet’s $135 Million Bitcoin Strategy: A Tale of Hope and Volatility
The company plans to allocate nearly ¥15 billion (around $95 million) to direct Bitcoin purchases, while the remaining funds will be funneled into income-focused Bitcoin strategies and redeeming corporate bonds. Because why put all your eggs in one basket when you can put them all in one highly unpredictable digital basket? 🧺
Currently, Metaplanet holds 30,823 Bitcoin, valued at roughly $2.8 billion, making it the world’s fourth-largest corporate Bitcoin holder. A title that undoubtedly comes with its own set of bragging rights and sleepless nights. 😴
By raising more capital, the firm aims to cement Bitcoin’s role in its balance sheet as a hedge against inflation and monetary instability. Because nothing says “financial security” like investing in an asset that can lose 50% of its value overnight. 🛡️
How the Class B Preferred Shares Work: A Financial Rube Goldberg Machine
Metaplanet’s new Class B shares, cleverly named MERCURY (because why not add a bit of planetary flair?), are tailored for overseas investors. These shares come with no voting rights but offer a slew of financial perks, including dividend payments calculated using a notional ¥1,000 per share. Investors also have the option to convert these shares into common stock at predefined pricing, because who doesn’t love a good conversion option? 🔄
Additionally, investors get cash redemption rights if the shares are not listed on the Tokyo Stock Exchange by late 2026, along with other redemption triggers in case of corporate restructuring or delisting. Because nothing says “confidence” like planning for the worst. 🤞
The overseas allotment will create 23.61 million Class B shares, priced at ¥900 per share, with the scheduled issue date set for December 29. Mark your calendars, folks! 📅
Strengthening the Bitcoin Treasury Model: A High-Wire Act
Since last year, Metaplanet has positioned itself as a Bitcoin treasury company, a strategy that involves allocating reserves toward Bitcoin through multiple capital raises. A bold move that has become the firm’s defining characteristic, even as market volatility occasionally turns its balance sheet into a rollercoaster. 🎡
The latest capital plan aims to balance treasury expansion with protecting common shareholders from unnecessary dilution. The company calls this “capital efficiency with treasury expansion,” which sounds impressive until you remember they’re essentially betting on a highly volatile asset. 🤹♂️
Refinancing and Regulatory Steps: Dotting the I’s and Crossing the T’s
Alongside the new preferred share issuance, Metaplanet plans to simplify previous financing instruments. The 20th-22nd series of stock acquisition rights will be canceled and replaced with the 23rd and 24th series through an allotment to EVO FUND. Because nothing says “streamlining” like creating more series of stock acquisition rights. 📜
These actions are part of a larger refinancing plan designed to ensure regulatory compliance under Japan’s Financial Instruments and Exchange Act. The company is aligning these steps with its Bitcoin strategy and shareholder interests, because nothing says “we’ve got this” like navigating complex regulations while betting on a volatile asset. 🚧
Metaplanet expects the new capital initiative to attract more international investors. By issuing Class B shares, the company is attempting to provide a clear pathway for overseas participation in its Bitcoin treasury model. Because who wouldn’t want a piece of this action? 🌍
The funds raised will support future Bitcoin purchases in a disciplined way. Or, as disciplined as one can be when dealing with an asset that thrives on chaos. 🧘♂️
Related Reading: Metaplanet Goes All-In on Bitcoin with $500M Credit Line 🎲
Market Context: The Bitcoin Bandwagon Rolls On
Institutional adoption of Bitcoin is growing, especially in Asia. Companies like Metaplanet are adopting strategies seen in the US, where MicroStrategy has famously built a large Bitcoin treasury. Because if it’s good enough for the Americans, it’s good enough for us, right? 🇺🇸
Competitors have also increased their holdings. For instance, Strategy recently purchased 8,178 BTC (around $836 million), because why be left behind in the Bitcoin gold rush? 🏃♂️💨
Metaplanet’s approach shows a shift in corporate treasury management. Companies are increasingly seeing Bitcoin as part of a diversified strategy and are accumulating billions worth of the cryptocurrency. Because nothing says “diversification” like putting all your eggs in a digital basket. 🧺
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2025-11-20 21:21