Metaplanet Announces $5.4B Capital Raise to Buy Bitcoin, Targets 210,000 BTC by 2027

Key Takeaways:

• Metaplanet plans to acquire 210,000 BTC by 2027, targeting 1% of Bitcoin’s total supply.
• A new ¥770 billion share issuance will fund the aggressive expansion of its Bitcoin holdings.
• The firm has already climbed to tenth globally with 8,888 BTC and is pursuing a 600% BTC yield this year.

Japanese investment firm Metaplanet has unveiled an ambitious new target to amass 210,000 Bitcoin by the end of 2027. The firm announced to raise $5.4 billion to accelerate its Bitcoin purchase by issuing 555 million shares of Moving-Strike Warrants, a first of its kind raise in Japan’s market of this size.

The move, outlined in its updated “555 Million Plan,” would give the company ownership of roughly 1% of Bitcoin’s maximum supply.

The announcement marks a major acceleration from Metaplanet’s prior “21 Million Plan,” under which it aimed for 21,000 BTC by 2026.

After surpassing interim goals and climbing to 8,888 BTC, placing it tenth globally in corporate Bitcoin holdings, the company is now setting its sights far higher.

To fund this aggressive acquisition drive, Metaplanet will issue 555 million new shares through moving strike warrants, an innovative financing mechanism designed to optimize capital raising with minimal dilution.

If fully exercised, this issuance could generate an estimated ¥770 billion (approximately $5.4 billion) at an initial strike price of ¥1,388 per share.

The new plan is structured to gradually ramp up BTC holdings. This includes 30,000 BTC targeted by year-end 2025, 100,000 BTC by 2026, and 210,000 BTC by 2027.

“Thrilled to announce Asia’s largest-ever equity raise to buy Bitcoin — again! This time: $5.4 billion to accelerate our Bitcoin strategy. Our new target: 210,000 BTC by 2027,” Metaplanet CEO Simon Gerovich said in a post on X.

Thrilled to announce Asia’s largest-ever equity raise to buy Bitcoin — again! This time: $5.4 billion to accelerate our Bitcoin strategy. Our new target: 210,000 BTC by 2027.

Details here: https://t.co/ahL27o9QBg pic.twitter.com/njYybVq1uu

Metaplanet’s strategy leverages Japan’s deep capital markets, where demand for regulated Bitcoin exposure remains strong.

The company’s stock, one of Japan’s most liquid, offers domestic investors an accessible, tax-advantaged vehicle to gain BTC exposure—a notable advantage given Japan’s lack of spot Bitcoin ETFs.

The firm’s execution to date has been swift. Its previous capital raise of ¥102.8 billion fueled a 225.4% increase in BTC holdings year-to-date.

It now aims to deliver an even more aggressive 600% BTC yield by the end of 2025.

Metaplanet’s move draws parallels to MicroStrategy’s pioneering Bitcoin-backed securities approach, which aims to position itself as a bridge between traditional finance and Bitcoin-native capital formation.

Meanwhile, the number of public companies holding Bitcoin continues to grow.

According to data from BitcoinTreasuries.NET, 116 public firms have now added Bitcoin to their balance sheets. Recent additions include GameStop and Swedish health tech company H100.

MicroStrategy remains the largest corporate Bitcoin holder, with 580,250 BTC worth approximately $60.9 billion.

Other major holders include Marathon Digital Holdings and Tesla, both with over $1 billion in Bitcoin.

As reported, digital asset companies are flooding capital markets to raise funds for large-scale Bitcoin acquisitions, spurred by the cryptocurrency’s rally to a record $111,965 last week.

The surge, up more than 50% from early April, has ignited a wave of listings and mergers as firms race to secure funding while investor appetite remains strong.

More recently, Trump Media & Technology Group confirmed plans to raise $2.5 billion to buy crypto, joining a growing list of firms mimicking MicroStrategy’s blueprint.

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