Japanese publicly traded company Metaplanet has announced plans to raise over 116 billion yen (around $745 million) to fund more Bitcoin purchases.
On Jan. 29, the company issued 21 million shares of 0% discount moving strike warrants. Metaplanet plans to use these shares to raise the funds needed to increase its Bitcoin (BTC) holdings. The company called it the largest capital raise in Asian equity markets for buying Bitcoin.
Source: Metaplanet
The move aligns with Metaplanet’s strategy to counter the yen’s declining value and solidify its position as a leader in Bitcoin adoption.
Metaplanet plans to acquire 21,000 BTC by 2026
The $745 million fundraising initiative marks just the first phase of Metaplanet’s ambitious Bitcoin strategy. The company announced its goal to accumulate 10,000 BTC by Q4 2025, which would cost over $1 billion at current prices. By Q4 2026, Metaplanet plans to increase its holdings to 21,000 BTC, worth approximately $2.1 billion based on current market values.
Metaplanet’s plans to accumulate BTC. Source: Metaplanet
Metaplanet representative director and president Simon Gerovich said in a press release that the market recognized the company as “Tokyo’s preeminent Bitcoin company.” The executive said the company is seizing the momentum to solidify its position.
“Our vision is to lead the Bitcoin renaissance in Japan and emerge as one of the largest corporate Bitcoin holders globally. This plan is our commitment to that future,” Gerovich added.
Metaplanet is currently the 15th-largest corporate Bitcoin holder.
Related: MicroStrategy buys another $1.1B of Bitcoin, now holds 471,107 BTC
Bitcoin adoption spurs “exponential growth” for Metaplanet
Metaplanet first bought Bitcoin on April 8, 2024, making it a core treasury asset. Gerovich said that since the company adopted a Bitcoin standard, it has “experienced exponential growth.”
The company said its 2024 milestones included a BTC yield of 309% for Q4, which followed a 41% yield in Q3. It added that its BTC holdings also reflect significant unrealized gains.
Apart from its Bitcoin investments, the company also experienced growth in its number of shareholders, which surpassed 50,000. Its share trading volume also increased 430x year-on-year.
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