Key Takeaways
- Metaplanet plans to raise $5.4B to buy 210,000 BTC by 2027.
- It currently holds 8,888 BTC after a $117.5M June purchase.
- The company raised $650M in 60 days during a prior share issuance.
Metaplanet has launched a massive ¥770.9 billion ($5.4 billion) capital raise, aiming to purchase up to 210,000 BTC—roughly 1% of Bitcoin’s total supply—by 2027.
The Japanese firm is issuing 555 million shares via moving strike warrants in what it calls Asia’s largest equity raise dedicated to Bitcoin.
Warrant structure & pricing
CEO Simon Gerovich described the structure as a third-party allotment across three warrant series, priced at a premium to market rates.
The initial strike price of ¥1,388 per share exceeds recent trading prices. The full raise is expected to complete in six to ten months.
Recent acquisitions & holdings
Metaplanet’s latest acquisition of 1,088 BTC for ¥16.9 billion ($117.5 million) brings its total holdings to 8,888 BTC as of June 2025, placing it among the top ten public corporate holders.
These assets were acquired entirely through non-dilutive debt and warrant-based equity mechanisms at an average price of $93,354 per coin.
Financial performance & targets
The company’s internal “BTC yield” metric has risen to 225.4% year-to-date.
During its earlier “210 Million Plan,” it raised ¥93.3 billion ($650 million) in just 60 trading days, growing its holdings from 1,762 to 7,800 BTC.
Long-term goals & market position
Metaplanet has updated its long-term targets to 100,000 BTC by end of 2026 and 210,000 BTC by 2027.
It remains Japan’s most liquid equity by trading volume and among the year’s top performers in market cap growth.
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