Metaplanet Embarks on Aggressive Bitcoin Acquisition Strategy

Metaplanet has taken a decisive step, securing a mandate to pursue one of the world's most aggressive corporate cryptocurrency strategies. The company's shareholders have unanimously approved a plan to accumulate approximately 210,000 Bitcoin by 2027. This ambitious move raises a critical question: can the Japanese firm realistically finance such a massive appetite for digital assets?

A pivotal moment occurred at the extraordinary general meeting on December 22. Shareholders sanctioned a comprehensive capital restructuring plan designed to expand the company's holdings from the current 30,823 Bitcoin (valued at roughly $2.7 billion) to about 1% of the global Bitcoin supply.

Significantly, the strategy received support from Norges Bank Investment Management. Despite holding a conservative 0.3% stake, the Norwegian sovereign wealth fund voted in favor of all management proposals. Market observers interpret this as a crucial institutional validation of Metaplanet's business model, which is frequently described as an Asian counterpart to MicroStrategy. The company's shares are currently trading steadily around 461 JPY.

Detailed Mechanics of the Funding Plan

To fund this substantial accumulation without directly diluting common shareholders, Metaplanet intends to issue up to 555 million new preferred shares. The financing model relies on two distinct classes:

Should investors sell immediately? Or is it worth buying Metaplanet?

• Class A (MARS): These securities offer variable monthly dividends, aimed at attracting yield-focused institutional capital.
• Class B (MERCURY): This class consists of perpetual preferred shares with fixed quarterly dividends. The issuer holds a buyback option exercisable after ten years.

This structure is engineered to decouple the funding mechanism from the daily volatility of the cryptocurrency market. Metaplanet is strategically leveraging the interest rate differential between the Japanese market and the anticipated appreciation of Bitcoin—essentially a carry trade adapted to local conditions in Tokyo.

Operational Infrastructure and Forward Timeline

The operational foundation for global capital raising is already established. The company has launched an ADR program, initiated on December 19, to facilitate access for U.S.-based investors. Furthermore, its U.S. subsidiary, Metaplanet Treasury Corp., established back in May 2025, serves as a bridge to North American liquidity pools.

The rollout of the new share issuance is expected imminently. Investors would be wise to note the date of February 17, 2026. The next earnings report, due then, should provide the first insights into the efficiency of the novel capital structure. From a technical analysis perspective, market experts see potential for a climb toward 550 JPY if the share price breaks above the 480 JPY level, a move likely supported by Bitcoin trading above $90,000.