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Metaplanet has made its intentions unmistakable: the Tokyo-listed asset manager is not just holding Bitcoin - it is redesigning its corporate financing around it.
The company has unveiled a new fundraising initiative worth $135 million, capital that will be deployed entirely into BTC purchases. The message is clear: traditional reserves are out, Bitcoin is in.
A Corporate Structure Built for a Bitcoin Future
To raise the capital, Metaplanet isn’t choosing the usual mix of debt and ordinary shares. Instead, the firm will issue Class B perpetual preferred stock, a structure more commonly associated with long-term capital planning than short-term trading activity. These preferred shares offer a 4.9% annual dividend and include a 1,000-yen conversion rate, giving investors income today and equity exposure later.
— Metaplanet Inc. (@Metaplanet) November 20, 2025
By designing a financing instrument that feeds directly into Bitcoin accumulation, Metaplanet is effectively locking BTC into its long-term capital architecture – not just its treasury.
From Strategy Experiment to Core Identity
Earlier in 2024, the company began steadily increasing the weight of BTC on its balance sheet, framing Bitcoin as a strategic reserve rather than a speculative asset. That initial shift has now evolved into a defining corporate identity: Metaplanet is positioning itself as a company whose value proposition grows in parallel with Bitcoin adoption.
Executives have repeatedly argued that in a world where inflation and currency volatility are becoming structural rather than temporary, BTC offers stronger long-run protection for shareholder value than fiat reserves.
A Potential Model for Japan’s Institutional Market
Japan has been slower than the U.S. and parts of Europe in adopting Bitcoin-based capital strategies. That’s what makes this move so significant. A $135 million capital raise dedicated exclusively to BTC purchases is an unmistakable signal to other firms that Bitcoin accumulation is no longer just a marketing talking point – it’s a viable treasury blueprint.
Analysts watching the development suggest that if Metaplanet benefits from the shift – through investor loyalty, long-term asset appreciation, or reduced currency exposure – other companies may begin exploring similar models.
The Buy-the-Market Strategy
There is no attempt to time the bottom. Metaplanet has stated that revenue from the preferred share issuance will flow directly and continuously into Bitcoin, regardless of short-term price moves. That approach suggests a cost-averaging mindset designed to turn volatility into an advantage rather than a risk factor.
Instead of worrying about whether Bitcoin is about to rally or correct, the company is committing to accumulation as a permanent structural behavior.
The Bigger Picture
If Bitcoin continues its long-term trajectory, Metaplanet’s balance sheet becomes stronger. If more companies follow its example, Japan could rapidly transition from a cautious crypto environment to one of the most interesting institutional Bitcoin markets in Asia.
One thing is beyond debate: Metaplanet is no longer experimenting with Bitcoin. It is building with Bitcoin – and now it has $135 million more to do it.