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Metaplanet has unveiled plans to raise $5.4 billion to buy a considerable amount of the global Bitcoin supply. The move represents the biggest Bitcoin equity sale in Asia and shows the company plans to continue growing its digital asset portfolio.
The equity raise will fund Metaplanet’s “Accelerated 2025–2027 Bitcoin Plan.” Under this initiative, the company plans to accumulate 210,000 BTC by the end of 2027—roughly 1% of Bitcoin’s total supply. According to the firm, the funds will be deployed exclusively for Bitcoin purchases, further aligning its strategy with prominent institutional holders.
Metaplanet will distribute up to 555 million new shares through moving strike warrants to purchase its Bitcoin. Since these instruments are overpriced in the market, they are created to appeal to investors who plan to hold them for a long time. The new raise follows the firm’s previous “21 Million Plan,” which added 210 million shares and secured $650 million in just two months.
The company’s approach mirrors and potentially surpasses the strategy of MicroStrategy, the current largest public holder of Bitcoin. By the end of 2026, Metaplanet aims to reach 100,000 BTC.
Despite this, it has already secured a place among the top 10 corporate holders of Bitcoin globally. The company’s Bitcoin holdings, which now total nearly $1 billion and are up more than 225% year to date, have reinforced investors' interest and expanded its role in the digital asset market.
Metaplanet’s financial instruments, including zero-interest unsecured bonds and its partnership with Evo Fund, have supported its fast-paced accumulation. For the first time in the Japanese capital market, moving strike warrants are being used. With this mechanism, Metaplanet prevents additional dilution of shares while aligning with long-term investors who support Metaplanet’s crypto vision.
The price of Metaplanet’s stock has gone up rapidly recently. In the past month, its value has increased by over 213% and nearly 285% since the beginning of the year, showing that the market likes its focus on Bitcoin. The data shows that more institutions have confidence that Bitcoin can be used as a reserve asset.
