Metaplanet Raises $517 Million in First Day of 555 Million Bitcoin Plan

Metaplanet, a Tokyo-listed investment firm, has initiated its ambitious "555 Million Bitcoin Plan" by securing over $517 million on the first day. This capital raise was achieved through the issuance of 54 million new shares, priced at approximately $9.59 each, with EVO Fund purchasing these shares by exercising a portion of its stock acquisition rights. This initial tranche represents about 10% of the total 555 million shares planned for release under the program.

Metaplanet's goal is to raise up to $5.4 billion to purchase up to 210,000 Bitcoin, which constitutes roughly 1% of the total Bitcoin supply. If fully executed, this plan would position Metaplanet as a significant player in the digital asset space, potentially rivaling or even surpassing major corporate Bitcoin holders like MicroStrategy. The firm plans to use 96% of the raised funds for Bitcoin purchases, with the remaining 4% allocated to bond redemptions and yield-generating strategies.

This capital raise follows Metaplanet's board approval to allocate up to $5 billion to its U.S. subsidiary, Metaplanet Treasury Corp, based in Florida. This subsidiary will manage Bitcoin acquisitions and broader treasury functions, leveraging U.S. capital markets and infrastructure to support the company's global strategy. Metaplanet's approach mirrors that of MicroStrategy, which has accumulated over 1% of Bitcoin’s total supply through equity raises and convertible debt. By adopting a similar strategy in the Asia-Pacific region, Metaplanet aims to capture a leading role in the digital asset economy, leveraging Japan’s maturing regulatory framework and investor appetite for digital exposure.

Following the issuance on Monday, Metaplanet's outstanding share count surged past 654 million, marking a significant milestone in its multi-phase capital plan. If the full $5.4 billion target is met, Metaplanet's Bitcoin holdings would place it among the top corporate BTC holders worldwide. This move underscores the growing institutional interest in Bitcoin, particularly in Asia, and validates corporate crypto accumulation as a viable treasury strategy amid global inflation and monetary uncertainty.