Metaplanet Stock Jumps 12% as Company Launches New Capital Vehicle for Bitcoin

TLDR

• Metaplanet introduces MARS, a new strategy to raise funds for Bitcoin acquisitions.
• Metaplanet’s stock surges over 12%, boosting its enterprise value.
• The MARS capital vehicle raises funds without diluting common shareholders.
• Metaplanet’s market cap exceeds Bitcoin’s net asset value, driving investor interest.

Metaplanet Inc., a Tokyo-listed company often referred to as “Japan’s MicroStrategy,” saw its stock rise by over 12% following the announcement of its new capital-raising initiative. The company revealed a dedicated preferred-share structure named MARS (MetaPlanet Acquisition and Reserve Strategy), aimed at raising funds specifically for Bitcoin acquisition. This development is a direct replication of the strategy employed by U.S.-based company MicroStrategy.

The introduction of MARS has created significant excitement in the market, with investors applauding the new venture. CEO Simon Gerovich, speaking at the “Bitcoin for Corporations Symposium,” confirmed that MARS is designed to help Metaplanet continue its strategy of expanding its Bitcoin holdings. Gerovich’s remarks were supported by Michael Saylor, Chairman of Strategy, who expressed admiration for the MARS name and its potential.

MARS Capital Vehicle Explained

MARS is designed as a non-dilutive funding mechanism for Metaplanet, allowing the company to raise capital without affecting the interests of common shareholders. The preferred shares issued under MARS have senior status and carry no conversion rights. This structure provides investors with a preferred claim on assets while ensuring that common equity remains protected from dilution.

The proceeds raised through the MARS issuance will be entirely allocated to Bitcoin purchases, strengthening Metaplanet’s Bitcoin reserve. The unique feature of MARS is its self-adjusting dividend system, which stabilizes the price of the shares. The dividend rate will increase if the stock price falls below par value and decrease when the stock price exceeds par value, providing a predictable income stream to investors while mitigating price volatility.

Stock Performance and Market Sentiment

Following the announcement, Metaplanet’s stock price surged by 12.14%, closing at 471 JPY. This increase reflects investor optimism about the company’s future plans and its commitment to Bitcoin accumulation. In comparison, Strategy’s stock (MSTR) also saw an increase, demonstrating positive market sentiment toward Bitcoin-related corporate strategies.

Metaplanet’s enterprise value surpassed 537 billion JPY, and its market capitalization was reported at approximately 537.999 billion JPY. The stock’s recent performance has positioned Metaplanet as a strong player in the digital asset space, mirroring the success of companies like MicroStrategy that have taken bold steps in Bitcoin investment.

The Waiting Game: Will Metaplanet Act on Bitcoin Purchases?

Despite the launch of MARS and the positive market reaction, Metaplanet has not made any Bitcoin purchases since late September 2025. The company’s most recent acquisition of 2,744 BTC at around $112,000 has raised questions about its future moves. While Bitcoin’s price dropped over 30% to $89,000, Metaplanet has refrained from buying at this discount, leaving the market speculating about its next steps.

Some analysts believe that Metaplanet may be waiting for clearer regulatory guidance, especially regarding the upcoming MSCI decision, which could influence Bitcoin’s market environment. Others suggest that the company could soon leverage the MARS funds to take advantage of the recent price dip. Regardless, Metaplanet’s strategy is poised to shape its long-term growth, and its next Bitcoin purchase will likely be closely monitored by investors.

Metaplanet’s Strategic Push for Bitcoin Expansion

Metaplanet’s introduction of MARS demonstrates the company’s serious commitment to Bitcoin acquisition and expanding its digital asset reserves. By utilizing a non-dilutive structure and a self-adjusting dividend system, the company aims to stabilize its stock while benefiting from the upside potential of Bitcoin.

As the enterprise value exceeds the value of its Bitcoin holdings, the market’s focus is now on how Metaplanet will use the raised funds and whether it will act on the current Bitcoin discount. The coming months will be crucial in determining if the company can maintain its positive momentum and grow its Bitcoin treasury further.

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