Metaplanet Launches $5.4 Billion Bitcoin-Linked Equity Offering in Japan
Metaplanet Inc., a Japan-based investment company, announced on Thursday the launch of an equity raise valued at approximately ¥770.9 billion (roughly $5.4 billion), marking what it claims is the largest Bitcoin-focused capital raise in Asia to date. The firm is issuing 555 million shares through moving strike warrants, a type of financial instrument that allows pricing flexibility tied to stock volatility. According to Metaplanet, the issuance is notable for being priced at a premium to its current market value—an uncommon move in Japanese capital markets. The company stated that this structure was enabled by its stock’s high volatility and strong liquidity. The funds raised will facilitate Metaplanet’s Bitcoin treasury expansion, which it has accelerated in recent months. Second-Phase Expansion Follows Earlier Raise The new raise follows Metaplanet’s earlier initiative, dubbed the “210 Million Plan,” which began earlier this year. That plan raised approximately ¥93.3 billion ($650 million) over the course of 60 trading days. Metaplanet’s Bitcoin-related yield reportedly increased 189% during that period, while the company’s stock price more than tripled. Following these developments, Metaplanet claims it now ranks among the top 10 corporate Bitcoin holders globally, though independent verification of that ranking has not been provided. Metaplanet Long-Term Bitcoin Holdings Target As part of its long-term roadmap, Metaplanet aims to acquire up to 100,000 Bitcoin by the end of 2026, with a further target of reaching 210,000 Bitcoin by the close of 2027. If achieved, that would represent roughly 1% of Bitcoin’s fixed total supply of 21 million coins. Metaplanet’s aggressive Bitcoin acquisition approach comes amid growing corporate interest in digital assets, although such strategies remain relatively rare in Japan’s traditionally conservative financial landscape. The crypto investment firm thanked its shareholders in a public statement but did not offer further comment regarding regulatory considerations or future capital-raising efforts.
