Tokyo-listed Metaplanet Inc. has taken a major step toward expanding its bitcoin holdings. The company filed a shelf registration on Friday, aiming to raise to ¥555 billion, or about $3.7 billion. It plans to use the funds to acquire more bitcoin under its long-term strategy called the “Bitcoin Plan.”
The company hopes to have a treasury of 210,000 bitcoin between 2025 and 2027. It already controls 17,132 bitcoin as of July 31. In order for it to meet this new goal, Metaplanet is hoping for greater flexibility in the manner it raises capital. It hopes to do that through the issuance of new classes of preferred shares whose lives never expire.
Bitcoin buys are planned with future Metaplanet offerings
Metaplanet is also set to change company rules. Its board of directors approved a proposal to increase the common shares it offers. It is considering increasing the limit on the number of shares it offers from 1.61 billion shares currently to 2.723 billion shares. The plan creates two new classes of preferred shares, Class A and Class B.
Each of those classes can have up to 277.5 million shares set aside for later issuance. The shelf registration begins on August 9, 2025, and would run for two years. It gives Metaplanet legal flexibility to issue shares in case the right moment is opportune. All of the proceeds of any later issues would go solely for bitcoin purchases.
Metaplanet awaits shareholder vote on Bitcoin plan
The company added that it hasn’t yet made plans regarding distributing such shares. The filing is only for future quick action. It keeps Metaplanet on high alert to move quickly if the time is right to raise capital for its bitcoin business. The company hasn’t made solid plans, like listing the preferred shares on any exchange.
It will be consulting regulators and markets before it makes those decisions. The amendment of Articles of Incorporation would be put to vote at a special shareholders’ meeting on September 1, 2025. Metaplanet is going all-in on Bitcoin as part of its core strategy. It regards the virtual currency as being at the core of its future.
The shelf registration shows an intention of being ready and striking fast. Should the plan go through, it would be one of the largest corporate bitcoin holders in the world. The next couple of months may indicate just how aggressive the company is going to be.
