Bitcoin Japan raises $60 million, allocates $4 million to Bitcoin

Tokyo‑based Bitcoin Japan, a publicly listed subsidiary of Metaplanet, secured approximately ¥9.7 billion (about $60 million) through an unsecured convertible bond and stock acquisition rights issue subscribed by EVO Fund, a Cayman‑registered investor active in corporate Bitcoin‑treasury deals.

The company earmarked roughly ¥662 million (around $4 million) for its inaugural Bitcoin purchase, marking its first entry into the asset despite holding none previously. The remaining capital is slated for private‑equity investments, rare‑earth mining operations and robotics projects. Analysts noted a potential dilution of 95%–110%, which contributed to a post‑announcement share‑price decline.

Bitcoin Japan, formerly Marusho Hotta Co. Ltd. with roots dating to 1861, rebranded in November 2025 to pursue a Bitcoin‑treasury model. Its parent, Metaplanet, already holds about 43,000 BTC valued at over $2.8 billion, making it one of the world’s largest corporate Bitcoin holders. The raise occurs amid broader market volatility that has pressured similar corporate treasury strategies.