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Finance

Metaplanet’s $3.7 Billion Bitcoin Play: How Capital Restructuring Aims to Secure 210,000 BTC

Metaplanet approved capital changes to raise $3.7B for 210K Bitcoin by 2027. Shareholder backing secured.

byAndres Castro

September 2, 2025, 10:20 AM

Executive Summary

Metaplanet secured shareholder approval to revise its capital structure, expanding authorized shares and introducing a dual-class preferred stock system.

This strategic restructuring aims to enable a potential $3.7 billion fundraising initiative to acquire 210,000 Bitcoin by late 2027.

Metaplanet recently purchased 1,009 BTC, increasing its total holdings to 20,000 Bitcoin (valued at approximately $2.2 billion), making it the world’s sixth-largest corporate Bitcoin treasury.

The Story So Far

Japanese firm Metaplanet, already a significant corporate Bitcoin holder, is pursuing an ambitious goal to acquire 210,000 Bitcoin by late 2027. To fund this extensive accumulation, the company has secured shareholder approval for a major capital restructuring, including new share classes, designed to enable a potential $3.7 billion fundraising initiative by attracting diverse investors while safeguarding existing shareholder control, despite a recent decline in its stock price.

Why This Matters

Metaplanet’s shareholder approval for a significant capital restructuring, including a new dual-class preferred stock system, enables a potential $3.7 billion fundraising initiative aimed at acquiring an ambitious 210,000 Bitcoin by 2027. This strategic move not only highlights a growing institutional conviction in Bitcoin as a treasury asset but also positions Metaplanet to become a major corporate holder, potentially influencing broader corporate adoption of digital assets and demonstrating innovative financing models for crypto-centric companies, provided it successfully secures the necessary investor capital.

Who Thinks What?

Metaplanet views its capital restructuring, including new dual-class preferred stock, as a “defensive mechanism” to attract diverse investors, unlock $3.7 billion in potential funding, and achieve its target of acquiring 210,000 Bitcoin by late 2027.

Shareholders approved Metaplanet’s amendments to its articles of incorporation, supporting the capital restructuring framework designed to bolster the company’s Bitcoin accumulation strategy.

The current market and fundraising environment present a primary challenge for Metaplanet, as securing actual investors for the maximum potential $3.7 billion raise is crucial, especially amid a recent decline in the company’s stock price.

Japanese Bitcoin-stacking firm Metaplanet has secured shareholder approval to significantly revise its capital structure, paving the way for a potential $3.7 billion fundraising initiative aimed at bolstering its ambitious Bitcoin accumulation strategy. This strategic move, which includes expanding authorized shares and introducing a dual-class preferred stock system, is designed to attract diverse investors while safeguarding existing shareholder control. The company has set an ambitious target to acquire 210,000 Bitcoin by the end of 2027.

Capital Restructuring for Bitcoin Ambitions

Investors backed amendments to Metaplanet’s articles of incorporation, increasing its authorized shares to 2.7 billion. A new dual-class preferred stock system was also introduced, allowing the company to appeal to different types of investors.

The new system comprises Class A shares, which offer a fixed dividend for income-focused investors seeking stable returns. Class B shares, while carrying more risk, provide the option of converting into common stock, offering potential upside aligned with the company’s Bitcoin accumulation success.

Metaplanet describes these new share classes as a “defensive mechanism.” This structure is intended to shield common shareholders from excessive dilution, while simultaneously unlocking as much as 555 billion yen, equivalent to approximately $3.7 billion, in potential funding.

Path to Fundraising

The company initially announced its plan to raise $3.7 billion on August 1, with the goal of funding the acquisition of 210,000 Bitcoin by late 2027. Following the shareholder approval, Metaplanet’s board of directors resolved to issue new shares through an international offering, marking a significant step in its internal governance.

While shareholders have approved the overall framework, the company’s board must still authorize the specific terms of the share issuance. Metaplanet is also required to file detailed registration statements with Japanese regulators.

A primary challenge for the company’s fundraising aspirations remains securing actual investors to achieve the maximum potential raise of $3.7 billion. This effort comes amid a recent decline in Metaplanet’s stock price, which was trading at approximately $5.74 on Tuesday, representing a 54% decrease from its June high of $12.75.

Growing Bitcoin Treasury

Metaplanet currently holds a significant position among corporate Bitcoin holders. As of Tuesday, the company ranked as the world’s sixth-largest corporate Bitcoin treasury.

The firm recently purchased an additional 1,009 BTC on Monday for approximately $112 million. This acquisition increased its total holdings to 20,000 Bitcoin, valued at about $2.2 billion at current market prices.

Metaplanet’s strategic capital restructuring represents a major step towards realizing its ambitious Bitcoin acquisition goals. While the company has cleared significant internal hurdles, the success of its fundraising efforts and its ability to navigate market conditions will be crucial in achieving its targets.