Metaplanet Begins 'Asia's Largest-Ever' Raise to Buy More Bitcoin

Metaplanet Inc., known as Japan’s MicroStrategy, has announced a $745 million (¥116 billion) fundraising initiative in what is being called “Asia’s largest-ever equity capital raise for Bitcoin.”

The Tokyo Stock Exchange-listed firm plans to issue 21 million shares of 0% discount moving strike warrants, a type of financial instrument where the price investors pay for shares is directly tied to the market price at the time of purchase.

Unlike discounted warrants, this structure avoids diluting existing shareholder value and ensures that new share issuance is aligned with fair market pricing.

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The newly raised funds will enable Metaplanet to raise its Bitcoin holdings from 1,761 to 10,000 BTC by the end of 2025 and reach 21,000 BTC by 2026, according to a Tuesday statement.

“Our vision is to lead the Bitcoin renaissance in Japan and emerge as one of the largest corporate Bitcoin holders globally,” said Metaplanet CEO Simon Gerovich.

The company’s current Bitcoin holdings, valued at more than $187 million, already place it among the top 15 publicly listed companies holding the asset globally, as per CoinGecko data.

Metaplanet’s “21 Million Plan” targets $745 million to purchase Bitcoin in stages ensuring the company can buy during favorable market conditions.

The issuance will begin on February 17, 2025, and will remain flexible, allowing Metaplanet to pause or resume the exercise of the warrants as needed.

“Our mission is to maximize Bitcoin per share for our shareholders,” said Dylan LeClair, director of Bitcoin Strategy at Metaplanet. “Bitcoin is not just an asset; it’s the exit strategy. We’re here to accumulate and lead, not sell.”

Metaplanet’s fundraising plan follows a successful 2024, during which the company achieved a record 309.82% BTC Yield in the fourth quarter, up from 41.7% in the third quarter, as per the company statement.

The investment firm’s market capitalization surged by 7,000% after the adoption of the Bitcoin Standard, and its Bitcoin holdings, purchased at an average price of $74,217 (¥11.85 million) per coin, have already doubled in value.

Edited by Stacy Elliott.