Metaplanet upsized its international share offering from 180 million to 385 million shares, raising approximately $1.4 billion to fund additional Bitcoin (BTC) purchases.

The company announced on Sept. 9 that it had increased the offering by 205 million shares in response to strong investor demand, pricing the shares at 553 yen ($3.75) each with a 9.93% discount from the reference price of 614 yen ($4.16).

The enlarged offering will increase Metaplanet’s total outstanding shares from 755.9 million to 1.14 billion shares. President Simon Gerovich confirmed the finalization on social media.

Metaplanet plans to allocate 183.7 billion yen ($1.25 billion) for Bitcoin purchases and 20.4 billion yen ($138.7 million) for its Bitcoin income generation business between September and December.

The funding supports Metaplanet’s plan to acquire 210,000 Bitcoin by 2027, representing approximately 1% of Bitcoin’s total supply.

Metaplanet currently holds 20,136 Bitcoin valued at over $2.24 billion, making it Asia’s largest corporate Bitcoin holder and the sixth-largest globally, surpassing Riot Platforms.

The company acquired 1,145 BTC in September for approximately $127.2 million.

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Transitioning into a new business model

Metaplanet adopted Bitcoin as its primary treasury reserve asset to hedge against these risks while pursuing long-term capital appreciation.

The company disclosed its transition to Bitcoin treasury management in May 2024 as part of its “Strategic Treasury Transformation and Bitcoin Adoption” policy.

Metaplanet’s Bitcoin income generation business recorded 1.904 million yen (nearly $13 million) in sales revenue during the second quarter of the fiscal year 2025. The result represents the company’s efforts to generate yield from its Bitcoin holdings beyond simple appreciation.

The share offering structure includes underwriter purchase rights for up to 375 million shares, with an additional 180 million shares available through overallotment options. Final settlement and delivery are scheduled between Sept. 16 and 17.

The company’s aggressive Bitcoin accumulation strategy positions it among a growing number of corporations adopting BTC as a treasury asset, following the path established by Strategy and other institutional adopters in the cryptocurrency space.

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Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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June 14, 2025

GameStop has increased its convertible note offering to $2.25 billion, up from the $1.75 billion announced earlier this week, according to a Thursday evening press release.

The move comes just months after a similar $1.5 billion raise in April and follows the company’s recent entry into Bitcoin.

Shares of the Texas-based retailer dropped 24% over the past week, closing Friday at $22.14, despite holding steady after the announcement.

GameStop’s Zero-Coupon Notes Come with 32.5% Conversion Premium

The notes, which bear no interest, carry a conversion price of around $28.91 per share — a 32.5% premium over the stock’s Thursday afternoon average.

The structure mirrors the strategy employed by MicroStrategy, which has used premium note offerings to expand its Bitcoin holdings without immediate dilution.

GameStop first disclosed it had purchased 4,710 Bitcoin in March, pushing the stock above $28 at the time. Whether the company plans to expand its crypto reserves remains uncertain.

CEO Ryan Cohen has made it clear that GameStop won’t emulate other firms or signal its buying patterns. In a recent interview, he declined to say whether more BTC purchases were planned.

The press release kept options open, stating that proceeds would be used for “general corporate purposes,” including investments aligned with GameStop’s investment policy and “potential acquisitions.”

While vague, the language leaves the door open for further digital asset moves.

GameStop’s previous crypto ventures have been mixed. The company launched an NFT marketplace during the last market cycle but shut it down early last year.

At its annual shareholder meeting, Cohen pivoted focus toward trading cards—now making up nearly 30% of quarterly revenue.

“We’re focusing on trading cards as a natural extension of our existing business,” he said.

With capital in hand and crypto already on its books, GameStop could revisit Bitcoin when market conditions align.

223 Companies Hold Bitcoin

A growing list of firms is embracing Bitcoin as a balance sheet hedge or strategic investment. Recent data shows 223 public companies now hold Bitcoin, up from 124 just days earlier.

In total, more than 819,000 BTC, approximately 3.9% of the total supply, is currently held by public firms, according to BitcoinTreasuries.NET.

MicroStrategy remains the largest corporate Bitcoin holder, with 580,250 BTC worth approximately $60.9 billion.

Other major holders include Marathon Digital Holdings and Tesla, both with over $1 billion in Bitcoin.

Last week, Japanese investment firm Metaplanet unveiled an ambitious new target to amass 210,000 Bitcoin by the end of 2027.

As reported, digital asset companies are flooding capital markets to raise funds for large-scale Bitcoin acquisitions, spurred by the cryptocurrency’s rally to a record $111,965 last week.

The surge, up more than 50% from early April, has ignited a wave of listings and mergers as firms race to secure funding while investor appetite remains strong.

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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June 4, 2025

Circle Internet Financial, the company behind the USDC stablecoin, has priced its initial public offering at $31 per share, raising $1.05b in one of the largest US listings this year.

The upsized deal, confirmed late Wednesday, will see Circle begin trading Thursday on the New York Stock Exchange under the ticker symbol CRCL.

The Boston-based firm, co-founded by CEO Jeremy Allaire in 2013, sold 34m shares in total, with 14.8m coming from the company and 19.2m from existing shareholders.

Demand was robust, with the offering reportedly more than 25 times oversubscribed by the time books closed on Tuesday. The pricing gives Circle a valuation of $6.9b based on listed shares, and around $8.1b fully diluted.

Circle Sees Strong Fundamentals as USDC Use Grows Across Payments and Trading

Circle’s debut comes as investor appetite for crypto-adjacent stocks shows renewed strength, following a year in which the company generated $1.68b in revenue and reserve income.

While net income fell to $156m from $268m the year before, the firm’s fundamentals remain strong, bolstered by the growing use of USDC in digital payments and crypto trading.

USDC is the second-largest stablecoin globally, with more than $61b in circulation as of May 29. It currently accounts for about 29% of the stablecoin market, according to CoinMarketCap.

Circle also issues a euro-backed stablecoin, EURC, and provides infrastructure and payment tools to businesses integrating digital currencies.

Circle Secures BlackRock, ARK Interest as IPO Marks Shift in Digital Asset Adoption

Major investors signaled confidence in the offering. ARK Invest showed interest in purchasing up to $150m in shares, while BlackRock is expected to acquire roughly 10% of the IPO allocation. BlackRock also manages the Circle Reserve Fund, a government money market fund holding 90% of USDC’s reserves, valued at $53.3b as of this week.

The offering marks a significant step in Circle’s long-awaited journey to the public markets. The firm previously abandoned a SPAC merger in 2022 that would have valued it at $9n. After confidentially refiling for a traditional IPO earlier this year, Circle has now succeeded in making one of the largest crypto-linked listings since Coinbase’s debut in 2021.

As regulatory clarity improves under President Donald Trump’s administration and institutional demand for digital assets accelerates, Circle’s IPO positions it at the intersection of crypto innovation and traditional finance. With Wall Street backing and a solid balance sheet, the firm enters the public markets under bright lights and high expectations.