Metaplanet Targets IDR 60 Trillion for Bitcoin Acquisition, Aims to Become Asia’s Crypto Giant

Tokyo, Japan – Japanese investment firm Metaplanet has announced a major strategic initiative, unveiling plans to raise up to IDR 60 trillion (approximately USD 3.6–3.7 billion) through a preferred stock issuance scheme. The capital will be used to significantly expand its Bitcoin holdings, aligning with its goal to accumulate 210,000 BTC by the end of 2027.

Funding Scheme and Preferred Share Plan

According to its latest filings, Metaplanet has submitted a shelf registration totaling ¥555 billion, enabling it to issue preferred shares in phases from August 9, 2025, to August 8, 2027. The actual issuance will depend on market conditions and the outcome of the Extraordinary General Meeting of Shareholders (EGMS), scheduled for September 1, 2025.

Acquisition Progress and Current Holdings

As of the end of July 2025, Metaplanet had accumulated 17,132 BTC, valued at over USD 2 billion. This includes a recent purchase of 780 BTC at an average price of approximately USD 118,600 per BTC, equivalent to around USD 92–93 million.
In its Q2 2025 report, the company’s Bitcoin portfolio yield surged 129.4% quarter-over-quarter, posting an annual return of up to 430%.

Strategic Move: Embracing a “Bitcoin-First” Approach

Metaplanet’s strategy mirrors the "Bitcoin-first" approach popularized by MicroStrategy, positioning Bitcoin as the core asset in its public financial management strategy. Its 210,000 BTC target represents around 1% of the total global Bitcoin supply, potentially placing Metaplanet among the most aggressive crypto-holding institutions in Asia.

Market Enthusiasm and Potential Risks

On June 25, 2025, Metaplanet reported a successful initial raise of USD 517 million on the first day of its preferred share launch, highlighting strong investor interest in the strategy.
However, analysts have warned of potential dilution risks for common shareholders, especially if Metaplanet’s stock price continues to weaken toward the per-share Bitcoin asset value. Such instability may erode investor confidence.

Projected Impact on the Global Bitcoin Market

If the funding initiative is fully realized, Metaplanet is expected to increase its Bitcoin holdings from approximately 17,000 BTC to nearly 210,000 BTC within the next two years.
This move could exert spot-buying pressure on the market, potentially driving BTC prices toward the USD 130,000 range—or higher—by the end of 2025. The projection is supported by the accelerating trend of institutional liquidity and the expansion of global money supply.

Analysis and Conclusion

If executed as planned, Metaplanet could become the largest publicly traded Bitcoin holder in Asia, while also setting a precedent for other global corporations to adopt Bitcoin.
Nevertheless, the project’s success remains heavily contingent on factors such as shareholder approval, share price stability, and Japan’s regulatory and capital market environment.