Metaplanet's $745M Bitcoin Bet: Japan's Crypto Renaissance

Japan's Metaplanet has made headlines with its ambitious plan to purchase a record amount of Bitcoin. The Tokyo-listed investment firm announced on Jan. 28 that it had raised approximately $745 million through the issuance of 21 million shares, marking Asia's largest-ever equity capital raise for Bitcoin.

Metaplanet's "Bitcoin-first, Bitcoin-only" strategy aligns with its goal of leading Japan's Bitcoin renaissance. The company aims to acquire 21,000 BTC by 2026, mirroring Bitcoin's capped supply of 21 million coins. By the end of 2025, Metaplanet plans to acquire 10,000 BTC, which would cost approximately $1 billion at current market values.

Simon Gerovich, Metaplanet's representative president and director, stated that the company views itself as "Tokyo's preeminent Bitcoin company." Gerovich expressed the firm's commitment to fortifying its standing as one of the top global corporate holders of Bitcoin, similar to Michael Saylor's MicroStrategy.

Metaplanet's last Bitcoin purchase was in December 2024, when it acquired 619.7 BTC for 9.5 billion yen ($60.6 million). The company raised the funds through a bond issuance the prior week. Currently, Metaplanet is the 15th largest publicly traded holder of Bitcoin, with approximately 1,761 BTC in its portfolio.

Metaplanet's bold strategy to buy 21,000 BTC by 2026 is part of its plan to lead Japan's Bitcoin renaissance and emerge as one of the largest corporate Bitcoin holders globally. The company's vision is to become the primary advocate for Bitcoin adoption in Japan while establishing robust international market entry.

Metaplanet's success in the Bitcoin market has been driven by its effective acquisition tactics, which resulted in a 309.82% increase in Bitcoin yield during Q4 2024. The company's shareholder base expanded past 50,000 individuals, and trading activity reached 430 times the volume from the previous year.

Metaplanet's central "21 Million Plan" strategy focuses on aligning share prices with the market value