Shareholders decide on an $884 million fundraising strategy in the face of capital shortage at Metaplanet

Metaplanet's Bitcoin Accumulation Strategy Faces Challenges

Metaplanet Inc., the world's sixth-largest public Bitcoin treasury company, is facing some challenges in its Bitcoin accumulation strategy. The company, which recently announced a new mission to pioneer a new theory of credit in Japan and create digital capital instruments, has seen its stock take a hit.

On Monday, Metaplanet's stock closed at $5.65 (¥831), down 5.46%. This decline comes after a 54% drop since mid-June, a period that has also seen a slowing of the "flywheel" financing mechanism, which relies on rising share prices. This slowdown has reduced the capital available for Bitcoin purchases.

The company's latest move was the acquisition of 1,009 BTC for approximately $112.2 million. This purchase, made in June, achieved a "BTC Yield of 486.7% YTD 2025". However, Metaplanet's holdings have grown less than 50% since June compared to a 160% surge in the prior two months.

Metaplanet's goal is to own 210,000 BTC by 2027. To achieve this, the company had planned to sell up to 550 million new shares overseas, as allowed by a proposal that was approved by shareholders. However, the current state of the company's stock may threaten to derail this strategy.

The financing scramble is not the only challenge Metaplanet is facing. The company's financing arrangement with Evo Fund has allegedly been damaged due to the declining stock price. This could further impact Metaplanet's ability to accumulate Bitcoin.

Eric Trump, who attended the Tokyo meeting as a strategic adviser for Metaplanet, compared CEO Simon Gerovich to Michael Saylor, the CEO of Strategy, during the meeting. However, the current situation may test Gerovich's strategic prowess.

Bitcoin trading near $109,000 and Metaplanet's stock decline has opened a door to fragility, according to Ray Youssef, CEO of NoOnes. This fragility could potentially impact Metaplanet's future plans, including its goal of becoming the world's largest public Bitcoin treasury company.

Metaplanet's new mission includes the issuance of preferred stock worth $3.8 billion. This could provide the company with the necessary capital to continue its Bitcoin accumulation strategy, but whether it will be enough remains to be seen.

In a positive note, Metaplanet's percentage of Bitcoin per share has increased by 2,274% over the past year. This shows the company's commitment to its Bitcoin strategy, despite the current challenges.

As Metaplanet navigates these challenges, it will be interesting to see how it continues to shape the future of Bitcoin and digital capital.

Shareholders decide on an $884 million fundraising strategy in the face of capital shortage at Metaplanet