SoftBank, one in all Japan’s strongest company establishments, is reportedly in talks with Tether and Cantor Fitzgerald to launch a $3 billion Bitcoin treasury automobile slated for public itemizing. In response to Bloomberg, the construction is predicted to be capitalized in Bitcoin—not fiat—with SoftBank contributing $900 million, Tether $1.5 billion, and Bitfinex $600 million.
If finalized, the entity would launch with roughly 32,000 BTC—immediately rating among the many high 5 Bitcoin-holding public firms globally. It will additionally mark a big enlargement of a company technique that’s already redefining capital formation: the Bitcoin treasury mannequin.
Why Firms Are Turning to Bitcoin
The thought of holding Bitcoin on the stability sheet has moved past fringe concept. For a rising variety of public firms, Bitcoin is changing into a foundational capital asset—one that permits not solely preservation of buying energy, however accelerated entry to new types of capital.
This shift is clearest within the case of Technique (previously MicroStrategy), the corporate that pioneered the fashionable Bitcoin treasury technique. As CEO Phong Le defined throughout his MIT Bitcoin Expo keynote: “We outperformed the complete Nasdaq, the complete S&P 500, the complete Magazine Seven… and we outperformed Bitcoin.”
Technique’s outcomes weren’t pushed by speculative timing. They had been powered by construction. The corporate reimagined its stability sheet as a capital engine—elevating funds, deploying into Bitcoin, and making its holdings absolutely clear in near-real time.
Le argued that many firms underperform not as a consequence of execution failure, however as a result of they continue to be trapped in outdated monetary fashions—fashions that favor fiat, prioritize defensive posturing, and ignore the speed benefits of digital capital.
SoftBank Follows Metaplanet in Japan’s Bitcoin Treasury Rise
Whereas SoftBank’s potential transfer is commanding consideration, Japan already has a benchmark in place.
In 2024, Metaplanet Inc. delivered some of the exceptional company transformations in international markets. As soon as a struggling resort operator, the corporate pivoted right into a Bitcoin treasury technique and have become the best-performing inventory on this planet—with a 100x market cap enhance.
Metaplanet didn’t simply accumulate Bitcoin. It rebuilt its capital construction round it—utilizing Bitcoin to drive debt issuance, fairness raises, and treasury allocation. Its efficiency started monitoring not on earnings per share, however on BTC Yield: the proportion development in Bitcoin holdings relative to totally diluted shares.
By Q1 2025, Metaplanet had achieved a BTC Yield of 15.3%, with a goal of 35% per quarter. The market responded by repricing the corporate round its Bitcoin per share efficiency.
Metaplanet proved that the Bitcoin treasury mannequin works in Japan—and that it may possibly scale. Its success opened the door for bigger corporations to step in and increase the technique additional.
SoftBank’s Function in Scaling the Company Bitcoin Treasury
What SoftBank brings to this evolving company class isn’t novelty—it’s magnitude.
With $32.9 billion in money and practically $200 billion in internet asset worth, a $900 million Bitcoin allocation represents solely 2.7% of SoftBank’s reserves. However structured by way of a public firm seeded in Bitcoin, it turns into a high-visibility sign to international markets.
The proposed three way partnership—not like an ETF or artificial fund—is a Bitcoin-native working firm designed for public fairness markets. It permits traders to achieve Bitcoin publicity by way of a conventional channel, whereas creating new alternatives for capital formation by way of BTC-backed monetary devices.
This construction would additionally fill a vital hole in Japan, the place no spot Bitcoin ETF presently exists. It will grow to be the nation’s most accessible, liquid, and institutionally credible automobile for Bitcoin publicity.
SoftBank wouldn’t be getting into uncharted territory. It will be scaling a confirmed, institutionalized mannequin—bringing broader market entry and deeper liquidity to a capital technique already reshaping company finance.
A Defining Second for Bitcoin Treasury Technique
If accomplished, SoftBank’s transfer could be among the many largest Bitcoin treasury deployments in company historical past—and essentially the most important to this point in Asia.
It alerts that Bitcoin is now not an experimental reserve—it’s programmable capital. It permits firms to remodel idle stability sheet belongings into productive, strategic capital platforms.
The company Bitcoin treasury period is nicely underway. SoftBank has the stability sheet, repute, and infrastructure to take it even additional—scaling a mannequin that’s already reshaping capital markets from the within out.
