Tokyo-listed Metaplanet has closed an international share offering that raised ¥212.9 billion ($1.45 billion) on Sept. 10. The company priced 385 million shares at ¥553 ($3.73) each, and will use net proceeds of ¥204.1 billion ($1.39 billion) largely to buy Bitcoin—¥183.7 billion ($1.25 billion) for purchases and ¥20.4 billion ($139 million) for income-generating operations.
The move follows shareholder approval on Sept. 1 to issue up to 550 million overseas shares and comes after Metaplanet’s stock dropped about 54% since mid-June. Management cited Japan’s high national debt, prolonged negative real interest rates, and a weakening yen as reasons it began adding Bitcoin to its balance sheet in April last year.
After a recent purchase of 136 BTC, Metaplanet now holds 20,136 BTC, roughly $2.25 billion, making it the sixth-largest public corporate holder globally—behind Strategy, Marathon, and Twenty One, and ahead of Tesla, Coinbase, and Trump Media & Technology Group.
Analysts view the transaction as a signal that corporate Bitcoin adoption is spreading beyond U.S. treasuries. Dan Dadybayo, research lead at Unstoppable Wallet, told Decrypt that accounting-rule changes and the rapid rise of Bitcoin ETFs—led by BlackRock’s IBIT—are accelerating institutional adoption worldwide.
Holding Bitcoin on a corporate balance sheet can provide diversification and potential upside, but it also brings price volatility and accounting complexities companies must manage. Metaplanet’s sizable allocation cements its role in the ongoing debate over whether firms should treat Bitcoin as a strategic treasury asset or speculative exposure.
Source: Decrypt. Read the original coverage for full details.