- Metaplanet boosts its Bitcoin stash to 20,000 BTC, overtaking Riot Platforms and securing the sixth spot globally among public holders.
- Stock price drops 54% since June, as dilution concerns and a weakened fundraising model pressure shareholder confidence despite aggressive BTC buys.
- Future plans include raising up to $3.8 billion through preferred share issuance to expand its Bitcoin-first treasury strategy.
Metaplanet has expanded its Bitcoin treasury with another purchase of 1,009 BTC worth approximately $112 million. The Japanese firm now holds 20,000 BTC, valued at nearly $2 billion. This move solidifies its status as Japan’s largest corporate Bitcoin holder and positions it among the top global public companies with significant BTC reserves.
The latest acquisition came at an average price of $111,068 per coin, according to the firm’s disclosure. By surpassing Riot Platforms, Metaplanet secured the sixth position globally among public firms holding Bitcoin. The company’s strategy mirrors MicroStrategy’s approach, emphasizing steady accumulation regardless of short-term market conditions.
Performance metrics confirmed the rapid pace of accumulation. The company reported a BTC Yield of 30.7% for the July–September period. Although lower than the 129.4% reported in the previous quarter, the figure still reflected aggressive expansion.
Stock Under Pressure
Despite the growing Bitcoin treasury, Metaplanet’s stock has struggled. Shares dropped 5.46% to ¥831 on September 1, extending a weekly decline of nearly 7%. The stock has fallen 54% since June, eroding the premium previously enjoyed over its Bitcoin holdings.
The firm’s unique fundraising model has contributed to recent weakness. Metaplanet used a flywheel mechanism with Evo Fund, where rising share prices triggered warrants to finance BTC purchases. However, sliding share prices weakened this model, reducing its effectiveness as a source of capital.
By the end of August, the firm had issued more than 739 million new shares through its 20th series of stock acquisition rights. Total issued shares reached 751.2 million, raising concerns of dilution. Although these measures boosted holdings, they also pressured shareholder confidence.
Market Position and Future Plans
Metaplanet continues to rank among the largest Bitcoin holders worldwide. According to CompaniesMarketCap, the firm now sits 12th among firms holding, mining, or accepting BTC. However, its market capitalization has fallen sharply, now standing at about twice the value of its Bitcoin portfolio compared to eight times in June.
The firm aims to raise $884 million through overseas share offerings. It has also sought approval to issue up to 555 million preferred shares, potentially raising $3.8 billion to expand BTC holdings. High-profile allocations have also been made, including 3.3 million shares to Eric Trump, linked to the Trump family’s DeFi project.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
