Metaplanet Plans $3.8 Billion Bitcoin Expansion Despite 50% Stock Decline

Metaplanet, the Japanese firm often dubbed “Asia’s MicroStrategy” for its aggressive Bitcoin accumulation strategy, has seen its stock price tumble more than 50% since mid-June, according to Bloomberg.

The steep decline comes as the company prepares a bold new funding push to expand its Bitcoin reserves.

$884 Million Overseas Share Sale

The company announced plans to raise $884 million via overseas share sales, a move aimed at shoring up liquidity amid its market downturn. A key vote is scheduled for September 1, where shareholders will decide on a proposal to issue up to 555 million preferred shares. If approved, the issuance could generate as much as $3.8 billion earmarked specifically for expanding Metaplanet’s Bitcoin holdings.

Eric Trump Joins as Advisor

Adding a political twist to the story, Eric Trump, son of former U.S. President Donald Trump and a company advisor, has been granted 3.3 million shares in the firm. His involvement underscores the company’s growing efforts to court international attention and strengthen its advisory team as it seeks to execute one of the most ambitious Bitcoin treasury expansions to date.

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Balancing Risk and Strategy

While the prospect of raising billions to buy more Bitcoin could reinforce Metaplanet’s position as a leading corporate BTC holder, the strategy comes with significant risk. The sharp decline in its share price reflects investor concerns over dilution, volatility, and the company’s heavy reliance on Bitcoin’s market performance.

Still, with Bitcoin trading above $115,000 in late August, the firm appears committed to doubling down on its thesis that BTC remains the ultimate long-term store of value. If successful, the $3.8 billion raise could cement Metaplanet as one of the largest institutional Bitcoin holders worldwide.