Metaplanet Launches Asia's Largest Equity Raise for Bitcoin

Japan's Metaplanet has launched what it claims to be Asia's largest-ever equity capital raise, aiming to purchase more Bitcoin (BTC). The Tokyo-listed investment firm, which has gained attention for adopting MicroStrategy's Bitcoin strategy, plans to acquire 21,000 BTC by 2026 as part of its ambitious plan to lead Japan's Bitcoin renaissance.

On January 28, Metaplanet announced it had issued 21 million shares through 0% discount moving strike warrants, raising approximately 116 billion yen (around $745 million). This issuance is part of the company's "Bitcoin-first, Bitcoin-only" strategy, which aligns with its goal to continue boosting its BTC stockpile amid the Japanese yen's devaluation and Bitcoin's run to a lifetime high.

According to Metaplanet's disclosure, the company aims to acquire 10,000 BTC by the end of 2025, which would cost approximately $1 billion at current market values. By the end of 2026, it targets 21,000 BTC, worth about $2.1 billion based on current prices. Notably, 21,000 Bitcoin mirrors BTC's capped supply of 21 million coins.

Metaplanet's representative president and director, Simon Gerovich, stated that the market views the firm as "Tokyo's preeminent Bitcoin company." Gerovich noted that the company is seizing the momentum to fortify its standing as one of the top global corporate holders of the maiden crypto, similar to Michael Saylor's MicroStrategy. He emphasized that the company's vision is to lead the Bitcoin renaissance in Japan and emerge as one of the largest corporate Bitcoin holders globally.

Metaplanet's last Bitcoin purchase was in December when it purchased 619.7 BTC for 9.5 billion yen ($60.6 million), which it raised via bond issuance the prior week. The company is currently the 15th largest publicly traded holder of Bitcoin, holding roughly 1,761 BTC.