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Shares of Japan-based Bitcoin treasury firm Metaplanet surged over 16% after the company announced a $1.4 billion share offering to expand its Bitcoin holdings, with KindlyMD among those joining as an early investor.
Metaplanet said in a Sept. 10 announcement that it will offer 385 million shares to international buyers at JPY 553 ($3.75) each on Sept. 16. That’s an upsizing from its initial plan to raise 180 million new shares.
Metaplanet share price (Source: Google Finance)
The surge reversed a long downtrend after the company’s stock fell more 26% in the past month, according to Google Finance.
KindlyMD Commits $30M To Metaplanet’s New Offering
David Bailey’s Nakamoto, a subsidiary of Bitcoin treasury company KindlyMD, has already said that it has committed up to $30 million to take part in Metaplanet’s global equity offering.
That will be Nakamoto’s largest investment to date and its first in a publicly-listed Asian company with a Bitcoin treasury strategy.
Nakamoto and KindlyMD merged in August, transforming KindlyMD from just a healthcare company into a dual-focused entity that combines medical services with crypto investments.
Since the merger, KindlyMD and Nakamoto have grown their Bitcoin holdings to 5,765 BTC, ranking KindlyMD as the sixteenth-biggest BTC treasury globally.
Nakamoto Holdings is also led by Bailey, who is a crypto adviser to the Donald Trump administration. He is the Chairman of Bitcoin Magazine as well.
KindlyMD’s share price soared more than 77% in the last 24 hours.
Metaplanet To Use $1.2 Billion For More Bitcoin Purchases
Metaplanet is currently the largest corporate Bitcoin holder in Asia, and the sixth-biggest BTC treasury globally, according to data from Bitcoin Treasuries.
That’s with holdings of 20,136 BTC on its balance sheet, ranking it less than 4K Bitcoins under the Peter Thiel-backed crypto trading platform Bullish.
Metaplanet’s latest Bitcoin buy of 136 BTC for around $15.2 million was performed earlier this week on Sept. 8.
Metaplanet has acquired 136 BTC for ~$15.2 million at ~$111,666 per bitcoin and has achieved BTC Yield of 487% YTD 2025. As of 9/8/2025, we hold 20,136 $BTC acquired for ~$2.08 billion at ~$103,196 per bitcoin. $MTPLF pic.twitter.com/nwEAv0NzQq
— Simon Gerovich (@gerovich) September 8, 2025
The buying spree will likely continue in coming weeks, as the company said in its announcement that around $1.24 billion of the anticipated proceeds from the share offering will be used for more Bitcoin buys.
If the full $1.24 billion is used to purchase BTC at its current price of approximately $112K, the company’s holdings would grow by over 11K coins, boosting Metaplanet’s holdings above 30K BTC.
That would lift the company up two positions in the current Bitcoin treasury rankings, and place it ahead of Bullish and Bitcoin Standard Treasury Company with its 30,021 BTC. Metaplanet would then be ranked as the fourth-largest BTC treasury firm globally, provided the other companies don’t buy more Bitcoin before Metaplanet uses the $1.24 billion for purchases.
Metaplanet pivoted from a hospitality-focused firm to a Bitcoin treasury company in May 2024 in light of the “severe economic conditions in Japan—characterized by elevated levels of national debt, prolonged real negative interest rates, and an ongoing depreciation of the yen,” Metaplanet said in its announcement.
That decision “was made to hedge against asset risk caused by yen depreciation and to capitalize on BTC’s long-term appreciation potential,” it added.
With the upcoming raise, Metaplanet says it believes that it can “isolate its treasury from the yen’s decline,” eliminate inflation risk, and achieve sustained enhancement of corporate value.”
The remaining estimated proceeds will be used for Metaplanet’s “Bitcoin Income Generation Business.”
The company highlighted that holding BTC does not generate yields, this is due to the fact that Bitcoin runs on the Proof of Work (PoW) consensus mechanism and not the Proof of Stake (PoS) consensus that generates yields for investors. Metaplanet said that it is therefore generating revenue through the trading of BTC options.
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