Japanese Bitcoin treasury firm Metaplanet has just secured a massive $137 million raise to purchase more Bitcoin, signaling a strong commitment to its crypto strategy despite recent stock volatility.
Key Details of the Raise
Metaplanet closed the raise through the sale of 24.5 million newly issued common shares and one-year warrants to overseas buyers. The company opted for this structure to distribute dilution over time, with warrant exercise prices set above current trading levels. In its filing, Metaplanet stated that while this fundraising will dilute ordinary shares, allocating proceeds primarily to Bitcoin acquisition is expected to increase BTC holdings per share.
The firm has until February 16, 2026, to utilize the funds. Currently, Metaplanet holds approximately 35,102 BTC, valued at just under $3 billion.
Stock Performance and Challenges
Metaplanet's journey hasn't been without hurdles. In 2025, its share price peaked at $15.35 in May but plummeted to $2.50 by year-end, marking an 81% drop. However, the stock has shown signs of recovery in 2026, climbing 7% since the start of the year and trading at $2.77 at the time of writing. The stock trades under the ticker MTPLF on the OTC Markets OTCQX.
This raise follows a previous move in November 2025, when Metaplanet borrowed $100 million against its Bitcoin holdings to fund additional BTC purchases.
Market Context and Analyst Insights
Bitcoin's price has been volatile, recently dropping over 6% in a day to $83,541, hitting its lowest level since November. Equities have also faced pressure, with the S&P 500 down 0.53% and the Nasdaq dropping 1.27% on Thursday, amid political gridlock in Washington D.C. over a potential government shutdown.
The rise of digital asset treasuries, pioneered by firms like Strategy (which holds nearly $60 billion in Bitcoin), led to a surge in similar companies last year. However, this proliferation has created challenges. Ram Ahluwalia, CEO of Lumida Wealth, notes that the explosion of crypto treasury firms has resulted in attention fragmentation and liquidity fragmentation. He predicts potential mergers and acquisitions in the category but emphasizes it's still early to determine the long-term players.
The Bigger Picture
As Bitcoin treasury firms become more common, questions arise about their sustainability. Are they destined to become a pillar of Wall Street, or will they fade as a market fad? With Metaplanet's aggressive funding move, the firm aims to strengthen its position in a crowded and evolving market.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!