Tokyo-listed Metaplanet Inc. announced Friday it has filed a shelf registration statement to potentially issue up to ¥555 billion ($3.7 billion) worth of perpetual preferred shares, aiming to fund its strategy of acquiring more bitcoin. The move is part of the company’s ambitious “ Bitcoin Plan,” targeting the accumulation of 210,000 bitcoin between 2025 and 2027.
Metaplanet Files $3.7B Shelf Registration to Fund More Bitcoin Buys
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Metaplanet Seeks Up to ¥555B for Bitcoin Treasury Expansion
The Japanese company, holding 17,132 bitcoin as of July 31, 2025, seeks flexible financing options to execute this significant upward revision of its initial strategy announced in January. Metaplanet’s board also resolved to propose amendments to its Articles of Incorporation at an extraordinary general meeting scheduled for September 1, 2025.
The proposed amendments include increasing the total number of authorized common shares from 1.61 billion to 2.723 billion and establishing provisions for two new classes of perpetual preferred shares: Class A and Class B, each with a maximum authorized issuance of 277.5 million shares. The shelf registration covers potential offerings of these preferred shares within a two-year period starting August 9, 2025.
Proceeds from any issuance would be used solely for acquiring additional bitcoin (BTC). The company emphasized that no decision to issue the preferred shares has been made yet, and the Articles amendments are preparatory steps to enable future financing flexibility and ensure transparency. Specific terms, including listing the preferred shares, require further discussions with exchanges and regulators.
Metaplanet stressed it currently holds no concrete issuance plan. Further announcements will follow if a final decision to proceed with a specific offering is made. The shelf filing allows the company to move quickly should market conditions favor raising capital for its bitcoin treasury operations.
