Metaplanet Secures $1.4 Billion for Bitcoin Treasury Amidst Broad Web3 Funding Surge and China's Regulatory Warnings

Executive Summary

Metaplanet secured $1.4 billion in a public offering to significantly expand its Bitcoin treasury, mirroring MicroStrategy's strategy. Concurrently, Web3 infrastructure, Real-World Asset (RWA) tokenization, and AI-related protocols attracted substantial investment, including Nothing's $200 million for AI-native Web3 devices and Mavryk Network's $10 million for real estate tokenization. This investment surge unfolds against the backdrop of China's People's Bank of China (PBOC) issuing warnings about illicit virtual currency transfers, underscoring ongoing regulatory vigilance.

The Event in Detail

Metaplanet's Bitcoin Strategy

Japanese company Metaplanet completed a public offering, raising $1.4 billion (approximately 205 billion JPY). The entirety of these proceeds is designated for additional Bitcoin (BTC) purchases, expanding its existing treasury of over 20,100 BTC. This move positions Metaplanet as a key institutional holder, aiming to become the world's second-largest corporate Bitcoin treasury, following the strategic model established by MicroStrategy. CEO Simon Gerovich noted the participation of global institutional investors, including mutual funds, sovereign wealth funds, and hedge funds, in this offering. The company also secured shareholder approval for a $3.7 billion Bitcoin funding plan and announced the establishment of new subsidiaries in the U.S. and Japan to develop Bitcoin income generation businesses.

Web3 and RWA Funding Inflows

The broader Web3 ecosystem has seen significant capital injection across various sectors. Mavryk Network raised $10 million in a strategic investment led by MultiBank Group, earmarked for its Real-World Asset (RWA) tokenization initiatives, particularly focusing on over $10 billion worth of real estate in the United Arab Emirates. Fireblocks provides the multi-party computation wallets safeguarding these tokenized assets. This funding follows Mavryk Dynamics' $5.2 million raise earlier in the year, bringing total funding to $15.2 million. The tokenization of illiquid assets like real estate is projected to reach $4 trillion by 2035, according to Deloitte. Hong Kong's Aiko Group is also actively pursuing leasing asset tokenization.

AI-Native Devices and Decentralized Science

The convergence of Web3 and Artificial Intelligence (AI) is driving new investment. Nothing, a Web3 smartphone manufacturer, completed a Series C funding round, raising $200 million at a $1.3 billion valuation, with Tiger Global leading the investment. This funding brings Nothing's total capital to over $450 million and will support its plans to launch AI-native devices next year. The company previously partnered with Polygon for blockchain integration in its smartphones. In the decentralized science sector, Bio Protocol secured $7.1 million in funding led by Maelstrom Fund. This capital will support Bio V2, introducing on-chain fundraising, a decentralized AI research framework, and the BioXP incentive system, leveraging BioAgents to generate hypotheses and fund experiments.

Market Implications

The recent surge in funding for Web3 projects, particularly in RWA tokenization and AI integration, indicates a growing confidence in the sector's long-term potential for innovation and broader adoption. Metaplanet's substantial Bitcoin treasury expansion signals increasing institutional appetite for Bitcoin as a strategic asset, aligning with a global trend of corporate treasury diversification. This strategy, as pioneered by MicroStrategy, could further normalize Bitcoin's role beyond speculative investment. The focus on embedding Web3 and AI into consumer hardware, exemplified by Nothing, suggests a push towards more accessible and integrated blockchain experiences, potentially expanding the user base beyond early adopters. The significant investment in RWA tokenization, with its potential to unlock liquidity from traditionally illiquid assets like real estate, points towards a transformative shift in capital markets, making premium investments more accessible.

Broader Context

The positive sentiment surrounding Web3 innovation and growth is tempered by persistent regulatory concerns, particularly from major economies. The People's Bank of China (PBOC) highlighted in its annual financial stability report the risks associated with illicit virtual currency transfers and emphasized the need for an improved international regulatory framework. While mainland China maintains a strict ban on crypto trading and mining, Hong Kong is actively exploring crypto licensing and has developed a regulated environment for virtual asset trading platforms. This creates a bifurcated regulatory landscape within China, impacting capital flows and operational strategies for crypto businesses globally. The PBOC's ongoing scrutiny underscores a global financial realignment where central bank digital currencies (CBDCs) and stablecoins compete to redefine cross-border payment systems and investor priorities, further influencing the trajectory of decentralized finance.