TLDR
- Metaplanet wins $884M share sale nod to fuel Bitcoin buying spree.
- Eric Trump boosts Metaplanet’s bold Bitcoin push amid stock woes.
- Tokyo’s Metaplanet secures $884M for Bitcoin buys despite 54% drop.
- Shareholders back Metaplanet’s Bitcoin treasury despite volatility.
- Metaplanet grows Bitcoin stash to 20K BTC, eyes 210K target by 2027.
Metaplanet advanced its aggressive Bitcoin strategy on Monday, securing approval to raise $884 million through a primary share offering. The Tokyo-based firm announced the sale of up to 550 million new shares and preferred stock to fund additional Bitcoin purchases. This move comes as Metaplanet navigates sharp declines in stock value and financing pressure.
Shareholder Approval Secured Amid Volatility
Metaplanet held a general meeting in Tokyo’s Shibuya district, where shareholders approved its capital-raising proposal. The company plans to use most of the proceeds to increase its Bitcoin reserves. Despite recent losses, Metaplanet remains committed to expanding its digital asset holdings.
The approved issuance includes overseas shares and preferred stock, enabling greater funding flexibility in a declining equity environment. This development follows a 54% drop in Metaplanet’s stock since June, affecting its existing financing mechanism. The firm now aims to stabilize its strategy while continuing Bitcoin accumulation.
The share sale represents a critical step as Metaplanet seeks to counter the slowdown of its “flywheel” model. This model relied on rising stock prices to unlock capital via warrant exercises. However, falling share values have limited the company’s access to funds, threatening its crypto expansion roadmap.
Eric Trump Joins Push as Bitcoin Strategy Intensifies
Eric Trump attended the Tokyo meeting to reinforce his role as a strategic adviser to Metaplanet, a position he took in March. He appeared on stage alongside CEO Simon Gerovich as the company presented its renewed vision for credit innovation. His presence followed recent appearances at the Bitcoin Asia event and marks a deepening family involvement in digital assets.
Eric Trump’s crypto advocacy aligns with broader Trump family ventures, including the upcoming Nasdaq listing of American Bitcoin. This mining firm, founded by Eric and Donald Trump Jr., represents another arm of their digital asset expansion. His prediction of Bitcoin reaching $1 million drew attention during his Asia tour.
Metaplanet welcomed Trump’s influence as it seeks global legitimacy and investor attention. While the company declined to comment on his exact involvement during the vote, his alignment with Gerovich suggests a shared ambition. Together, they position Metaplanet as a regional leader in institutional Bitcoin adoption.
Bitcoin Holdings Grow Despite Market Challenges
Metaplanet reported purchasing 1,009 Bitcoin during the meeting, totaling 20,000 BTC under management, valued at $112.2 million. This acquisition increased its year-to-date Bitcoin yield to 486.7%, ranking it as the sixth-largest public holder globally. The firm overtook Riot Platforms in BTC holdings, solidifying its status among Bitcoin treasuries.
The company’s stock price fell 5.46% on Monday to close at ¥831 ($5.65), showing lingering concerns around equity dilution. Despite this, Metaplanet continues to outperform the Topix index over 12 months, with a 740% surge versus the index’s 13% gain. Its inclusion in the FTSE Japan Index reflects growing institutional recognition.
With a goal of reaching 210,000 BTC by 2027, Metaplanet faces mounting pressure to sustain its capital flow. Analysts warn that failure to raise capital could halt its accumulation strategy. Still, Metaplanet increased its Bitcoin-per-share ratio by 2,274% year-over-year, surpassing even MicroStrategy’s growth.
Metaplanet’s mission now includes pioneering new over-collateralized credit systems based on Bitcoin’s scarcity. As it shifts further into crypto finance, the company moves beyond its origins in hotel and CD retail businesses. While risks remain, Metaplanet continues to assert itself as Asia’s most aggressive Bitcoin treasury.
