Japan's "MicroStrategy" Metaplanet successfully raised $1.4 billion, expanding the global Bitcoin landscape.

Japan's largest Bitcoin holder, Metaplanet, has completed a massive funding round of $1.4 billion and has established new subsidiaries in Miami and Tokyo. This Tokyo-listed company successfully attracted major institutional investors, including sovereign wealth funds, doubling its initial funding target. This expansion marks a turning point for the company, transforming it from a struggling hotel operator into one of the world's top Bitcoin reserve companies.

The Miami business aims to generate Bitcoin revenue

According to reports, on September 17, 2025, Metaplanet established Metaplanet Income Corp. in Miami, with an initial startup capital of 15 million dollars. This new subsidiary will focus on Bitcoin derivatives trading and revenue generation, separate from its main Bitcoin storage business.

CEO Simon Gerovich will lead the Miami office alongside directors Dylan LeClair and Darren Winia. Gerovich stated that the derivatives business is set to launch by the end of 2024 and has already generated stable profits, representing the company's "growth engine." The choice of Miami reflects the city's rise as a major Bitcoin hub.

Record-breaking financing attracts global investors

Metaplanet initially planned to raise $880 million through an international stock issuance. However, due to strong investor demand, the company increased the issuance to 385 million shares, ultimately raising 212.9 billion yen (approximately $1.44 billion). This financing attracted participation from major mutual funds, sovereign wealth funds, and hedge funds. The price per share was set at 553 yen (approximately $3.75), a discount of 9.9% compared to recent trading prices.

Metaplanet plans to use most of the funds—183.7 billion yen—for purchasing Bitcoin in September and October 2025. Additionally, 20.4 billion yen will be used to support the expansion of the company's Bitcoin revenue-generating business.

Aggressive Bitcoin accumulation strategies are still ongoing

The company maintained an aggressive Bitcoin purchasing strategy throughout 2025. At the beginning of September, Metaplanet purchased an additional 136 Bitcoins for $15.2 million, bringing its total holdings to 20,136 coins, valued at $2.3 billion, making it the sixth largest corporate Bitcoin holder in the world.

The company's Bitcoin return on investment (a metric measuring the growth of Bitcoin per share) reached 487% in 2025. Its average purchase cost for Bitcoin was $103,196 each, and with Bitcoin trading prices exceeding $116,000, this brought significant profits to the company. The company plans to reach 30,000 Bitcoins by the end of 2025, 100,000 by 2026, and ultimately 210,000 by 2027, accounting for approximately 1% of the total Bitcoin supply.

Acquisition of Japanese Subsidiary and Top-Level Domain

In addition to expanding in the United States, Metaplanet has established Bitcoin Japan Inc. in Roppongi Hills, Tokyo. This subsidiary will manage Bitcoin-related media, events, and services across Japan. The company has also acquired the top-level domain Bitcoin.jp from a private owner. This domain will serve as the central hub for Bitcoin Magazine Japan, Bitcoin Japan Conference, and future Bitcoin-related products and services.

Market Position and Performance Challenges

Metaplanet's strategy for rapidly accumulating Bitcoin has drawn a comparison with MicroStrategy (now renamed Strategy). Although MicroStrategy leads with a holding of over 638,000 Bitcoins, Metaplanet has become a clear leader in Bitcoin adoption among Asian companies. Despite the company's profits from Bitcoin, its stock price has recently faced pressure. Following the announcement of its expansion, the stock price fell by 1.16%, and it has dropped 31% over the past month. However, the stock has still risen by 71% this year. Investment giant Fidelity has become the company's largest shareholder through its subsidiary National Financial Services, holding 12.9% of the shares, valued at approximately $820 million.

Conclusion

The dual expansion strategy of Metaplanet described in this article aims to separate Bitcoin accumulation from revenue-generating activities, providing stable cash flow while maintaining aggressive purchasing power. As the price of Bitcoin breaks through $116,000 and the global adoption rate by institutions increases, Metaplanet's expansion is at a critical moment for corporate cryptocurrency strategies. The company's success may inspire other Asian enterprises to emulate similar Bitcoin business models.