Metaplanet shareholders are said to have approved a proposal to raise $884 million by selling up to 550 million new shares overseas.
The decision comes amid the company’s extraordinary financial difficulties. Metaplanet’s shares have fallen 54% since mid-June.
Plan to Add Bitcoin Funding
In a major move to salvage its ambitious Bitcoin accumulation strategy , Metaplanet shareholders have reportedly approved a proposal to raise $884 million by selling up to 550 million new shares overseas.
The special shareholders' meeting took place this morning in Shibuya district, central Tokyo.
The decision is aimed at addressing a severe funding shortfall as the company's shares have fallen 54% since mid-June. This drop in share price has made a key funding deal with its main investor, Evo Fund, unworkable.
Metaplanet stock performance since June. Source: TradingView .The original deal was a self-perpetuating cycle, in which rising stock prices encouraged Evo Fund to convert stock options into company shares. This injected Capital into Metaplanet, which the company used to buy more Bitcoin. The hope was that these Bitcoin purchases would increase the company’s value, driving up the stock price and continuing the cycle.
This new $884 million Capital round is intended to replace funding that this cycle no longer generates. The majority of the proceeds will be used to buy more Bitcoin.
Overcoming the Capital push
To provide additional financial flexibility, shareholders are also said to have approved a parallel proposal to issue preferred shares, which could raise an additional $3.8 billion.
The move allows the company to raise Capital without further diluting common shareholders if the stock continues to decline. This dual approach underscores the severity of Metaplanet’s financial difficulties.
Despite these challenges, Metaplanet is not giving up on its ambitions with Bitcoin .
The company announced during the meeting that it had purchased an additional 1,009 BTC for approximately $112.2 million, bringing its total holdings to 20,000 BTC . The purchase made the company the sixth-largest publicly held Bitcoin holding, surpassing Riot Platforms. The company aims to own more than 210,000 BTC by 2027.
The presence of Eric Trump , who was appointed as the company's strategic advisor in March 2025, added to the significance of the meeting. Trump publicly endorsed the company's CEO, Simon Gerovich. He compared him to Strategy's Michael Saylor and affirmed Metaplanet's mission to pioneer a new credit theory in Japan based on digital assets.
His attendance reinforced the growing international interest and prominence in companies adopting Bitcoin treasury strategies.
