Metaplanet, a Japan-based Bitcoin treasury firm, has announced plans to raise $135 million through the issuance of 23.6 million Class B shares at 900 yen ($5.71) each. The offering, named 'MERCURY,' promises a 4.9% fixed annual dividend and includes conversion rights. This move aims to expand the firm's Bitcoin holdings despite a 33% drop in the cryptocurrency's value since its peak on October 6. The share offering, pending shareholder approval on December 22, will be conducted via third-party allotment to overseas investors. Metaplanet currently holds 30,823 BTC, valued at $2.55 billion, but is facing a 23% unrealized loss due to an average purchase price of $108,036 per Bitcoin. Additionally, MSCI's consultation on potentially excluding firms with over 50% crypto assets from its indexes could affect Metaplanet's market positioning.