Metaplanet Approves $137M Stock Offering to Expand Bitcoin Treasury

Metaplanet approved a new stock offering on Thursday, January 29, to raise funds for additional Bitcoin purchases, reinforcing its long-term corporate BTC treasury strategy. The Tokyo-listed company confirmed the decision following a January 29 board meeting, signaling continued commitment to Bitcoin accumulation as institutional adoption expands across global equity markets.

The company aims to issue new common shares and stock acquisition rights through a third-party allotment. The sale has the potential to raise 20.7 billion yen, which is approximately $137 million. According to Metaplanet, most of the funds will be used to purchase BTCs and for income operations.

Also Read: Bitcoin Faces $90K Rejection Even as Whale Accumulation Intensifies

Metaplanet Bitcoin Funding Structure and Strategy

Metaplanet also explained the structure of the issue to investors. There will be around 24.5 million new shares issued at 499 yen, raising around 12.2 billion yen. The stock acquisition rights will entitle the holder to 15.9 million shares at 547 yen in the specified period until early next year.

The payment and allotment date has been scheduled for February 13. The exercise window for rights will be between February 16 and February 15. Metaplanet has stated that overseas investors will be the main target. The transfer of acquisition rights will require board approval, which will limit speculation and tighten corporate control.

In terms of funds allocation, it is evident that the company is focusing on Bitcoin, as the funds allocation indicates that about 14 billion yen is meant for the purchase of BTCs, and about 1.5 billion yen is for income generation activities. Additionally, about 5.1 billion yen is meant for debt reduction. Metaplanet is expecting a limited earnings impact in 2026. Quarterly valuation reports are also expected.

Bitcoin (BTC) Volatility Reflects Structural Reset

In a broader market context, Bitcoin volatility has intensified in recent weeks, prompting comparisons to prior cycle tops. However, analyst EGRAG Crypto noted on Thursday, January 29, that current price behavior aligns more closely with historical structural resets rather than long-term trend reversals.

Historical math shows the token previously corrected roughly 25% from its cycle high, a proportional move defining liquidity washouts, not trend failure, within long-term expansion phases across multiple market cycles.

Source: EGRAG CRYPTO X Post

Applying this proportional model to the current cycle, the worst-case downside can be estimated at around $52,000 to $55,000, which is a macro peak at $69,000. EGRAG CRYPTO points out that this area indicates extreme washout risk and not the base case. Long-term projections remain bullish, and the upside targets can be estimated at around $240,000.

Also Read: Bitcoin’s Early Bull Signal Triggers Focus On $90K Zone