Metaplanet, the Tokyo-listed firm now positioning itself as a Bitcoin Treasury Company, has launched a $5.4 billion equity raise to buy more BTC, continuing its plan to build one of the world’s largest corporate Bitcoin stashes.

“555 Million Plan”

On June 6, Metaplanet announced that it would raise $5.4 billion through the issuance of 555 million shares in moving strike warrants — Japan’s version of an at-the-market equity facility. According to the company, this marks the largest-ever issuance of stock warrants in Japan and the first time moving strike warrants have been sold at or above current share prices in the nation. 

“Thrilled to announce Asia’s largest-ever equity raise to buy bitcoin — again! This time: $5.4 billion to accelerate our bitcoin strategy,” Metaplanet CEO Simon Gerovich said in a Friday post on X.

Metaplanet is allocating roughly 96% of the capital raised to buying bitcoin, with tiny amounts set for bond redemptions and income-generating strategies such as selling put options.

The new shares will be sold to Cayman-based fund EVO FUND, which has backed Metaplanet’s previous financing deals.

The 555 Million Plan is a follow-up to its earlier “21 Million Plan” which raised $600 million earlier this year and helped the Japanese-based company to buy about 9,000 BTC.

“Bitcoin is repricing the global cost of capital,” Metapanet postulated in a statement. “Through our 555 Million Plan, Metaplanet is doubling down on a high-conviction, equity-driven capital markets strategy to accelerate our bitcoin accumulation trajectory. As the most volatile listed equity in Japan, we are not scared of turbulence — we harness it.”

Metaplanet’s Ambitious Goal To Amass 210,000 BTC By 2027

The new round aims to raise enough funds to bolster its holdings to over 30,000 BTC by the end of 2025 from the previous 10,000 BTC goal and 100,000 BTC by the end of 2026 from 21,000 BTC.

Looking even further, Metaplanet is eyeing 210,000 BTC by the end of 2027 to join the Bitcoin 1% club —  referencing holdings of 1% or more of its total 21 million supply.

Metaplanet currently holds 8,888 BTC following its latest acquisition of 1,088 BTC for $117 million on June 2. It is now 10th 10th-ranked among corporate Bitcoin holders globally. The new 100,000 BTC target means it is committing to buy at least 91,112 BTC over the next 18 months.

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Filed under: Bitcoin - @ June 6, 2025 7:14 pm