Japan's Biggest Bitcoin Treasury Firm Just Raised $137 Million to Buy Even More BTC
Metaplanet, a Japanese Bitcoin treasury firm, raised $137 million by selling 24,529,000 new shares and issuing one-year warrants to overseas investors, primarily to fund additional Bitcoin acquisitions. The structure aims to spread share dilution over time, with warrant prices set above current trading levels, and is expected to increase Bitcoin holdings per share. Metaplanet, which currently holds nearly $3 billion in Bitcoin (35,102 BTC), has faced significant stock volatility, with its share price dropping from a May 2025 high of $15.35 to $2.50 by year-end. The stock recently traded at $2.77. In November 2025, the company also borrowed $100 million using its Bitcoin as collateral for further BTC purchases. This financing move reflects a growing trend among crypto treasury firms, although increased market entrants have led to fragmented investor attention and liquidity. Meanwhile, Bitcoin’s price has recently declined, and broader equities markets have also fallen amid U.S. political uncertainty.
