Japanese publicly traded company Metaplanet plans to raise approximately $745 million to purchase Bitcoin, intending to acquire 21,000 BTC by 2026.
Japanese publicly traded company Metaplanet plans to raise approximately $745 million to purchase Bitcoin, intending to acquire 21,000 BTC by 2026. This initiative is part of the company's strategy to strengthen its position in the cryptocurrency market and address the declining value of the yen.
On Jan. 29, Metaplanet issued 21 million shares of 0% discount moving strike warrants to facilitate this capital raise, marking what it claims to be the largest equity funding in Asia dedicated to Bitcoin acquisition.
The funds will be used to bolster its Bitcoin holdings significantly, aiming for 10,000 BTC by the fourth quarter of 2025, which could cost over $1 billion at current market prices.
Simon Gerovich, representative director of Metaplanet, stated that the company has been recognized as a leading player in Tokyo's Bitcoin landscape. He emphasized that this capital raise is a step toward solidifying Metaplanet's role in what he terms a “Bitcoin renaissance” in Japan. Currently, the company ranks as the 15th-largest corporate holder of Bitcoin.
Since adopting Bitcoin as a core treasury asset in April 2024, Metaplanet has reported substantial growth. The company noted a BTC yield of 309% for the fourth quarter of 2024, following a 41% yield in the preceding quarter.
Additionally, Metaplanet has seen its shareholder base expand to over 50,000, with trading volume increasing by 430 times year-over-year.
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