Metaplanet Approves New Equity Plans to Build a 210,000 BTC Treasury by the End of 2027

Metaplanet just greenlit a corporate strategy that would make any traditional CFO's head spin—they're going all-in on Bitcoin.

The Corporate Bitcoin Bet

Forget dipping a toe in the water. The company's board has approved a series of new equity plans with one audacious goal: amassing a treasury reserve of 210,000 BTC. That's not a typo. It's a multi-year commitment to convert corporate capital into the world's premier digital asset, with the final tally targeted by the close of 2027.

Why This Isn't Your Average Treasury Management

This isn't about parking cash in low-yield bonds or hoping for stock buybacks to pan out. This is a fundamental bet on Bitcoin as a superior store of value and a strategic corporate asset. The move signals a radical departure from conventional corporate finance playbooks, opting for a digitally-native, globally-settled reserve currency over fiat alternatives.

The plan leverages equity—a traditional tool—for a decidedly non-traditional outcome. It's a structured, long-term accumulation strategy, bypassing the volatility concerns that scare off less-convinced institutions by focusing on the multi-year horizon.

A Provocative Finish Line

If executed, Metaplanet's balance sheet would undergo a transformation rarely seen outside of crypto-native firms. It’s a high-stakes wager that Bitcoin's architectural scarcity will outperform the monetary policies of central banks—a cynical but increasingly popular jab at the legacy financial system's printing presses. The race to 210,000 is on.

Metaplanet expands share structure to raise more Bitcoin capital

To make this work, Metaplanet is issuing new shares; Class A, which is more expensive but gives voting rights, and Class B, which is cheaper, has no votes, but more flexibility for smaller investors.

These shares come loaded with features, like floating rates, meaning interest that changes over time with the market, so that investors pay less upfront but take on changing returns. Also, they’ll pay quarterly dividends. That’s four payments a year. Not bad, considering most Bitcoin-focused firms don’t even touch dividends.

With the Class B preferred shares, investors will get a 10-year, 130% “issuer call”. In plain English? The company can buy back the shares after 10 years for 130% of what they originally cost. There’s also a put right feature.

If Metaplanet doesn’t go public within a year, investors can force the company to buy back the shares at a pre-set price. This gives some safety to buyers worried about liquidity or exit options.

Crypto winter or not, Japan-based digital asset treasuries are still spending. Two other DATs on the Tokyo Stock Exchange have recently bought around $2.6 million worth of Bitcoin. Both plan to keep buying more in 2026.

This is happening while most crypto treasuries globally are taking heavy hits or trading below their asset value. But that hasn’t stopped Metaplanet.

Hermes Lux, an analyst who follows Bitcoin treasuries, said the company’s stock could jump 1,500% by the end of 2027, assuming Bitcoin grows 40% a year and Metaplanet hits its goal of 100,000 BTC by 2026 and 210,000 BTC by 2027. For 2026 alone, Lux expects a 402% upside on the stock. Again, that’s if Bitcoin performs and the firm keeps buying.

Right now, Metaplanet has three stocks in the wild. MPJPY is the new one, backed and trading in the U.S. OTC markets. MTPLF was the first U.S. listing, but it’s unbacked. Then there’s the original: stock 3350, which trades on the Tokyo Stock Exchange.

All three have bounced back over the past month. Gains range between 6% and 28%, even as Bitcoin itself only managed under 1%. Strategy’s MSTR, by comparison, dropped 12% in the same period. That gap has started to catch attention, and not in a subtle way.

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