Japan’s Metaplanet Raises $1.4B to Double Down on Bitcoin Strategy

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Tokyo-listed Metaplanet is making a monumental bet on Bitcoin, announcing a $1.4 billion capital raise dedicated almost entirely to accumulating more of the cryptocurrency.

The firm, which has adopted a Bitcoin-centric treasury strategy similar to MicroStrategy, will use over 90% of the proceeds from its upsized international share offering to purchase additional BTC.

This move accelerates a campaign that began in 2024 and has already seen the company amass over 20,000 Bitcoin, making it a dominant Asian corporate holder and the sixth-largest globally.

Beyond simply holding Bitcoin, Metaplanet is building a business around it, generating significant revenue in Q2 2025 by trading Bitcoin options. This funding round signals a powerful commitment to its identity as a leading Bitcoin treasury company.