Metaplanet, often dubbed the "Japanese MicroStrategy," has announced an ambitious plan to raise $5.3 billion by issuing 555 million shares through warrants, marking the largest stock warrant issuance in Japan’s history.
Nearly 96% of the proceeds will be allocated to purchasing Bitcoin, reflecting the company’s bold strategy to integrate the cryptocurrency into its financial framework.
The company aims to expand its Bitcoin reserves to over 210,000 BTC by 2027, representing approximately 1% of Bitcoin’s total supply.
Metaplanet views this move as a hedge against Japan’s negative interest rates and the weakening yen, positioning Bitcoin as a strategic asset amid economic uncertainty.
This issuance introduces Japan’s first moving-strike warrants, allowing shares to be purchased at market price or higher, a novel approach in the country’s capital markets. The funds will fuel Metaplanet’s aggressive accumulation strategy, building on its recent acquisition of an additional 1,088 Bitcoin for approximately $117 million earlier this week.
With an average purchase price of $108,072 per BTC, the company’s total holdings now stand at 8,888 BTC, valued at around $920 million, with cumulative investments reaching about $851 million.
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Metaplanet’s stock (ticker 3350 on the Tokyo Stock Exchange) has surged approximately 5,000% over the past year, driven by its Bitcoin-focused strategy. This remarkable rally follows a prolonged downtrend since the stock’s 2013 peak, from which it had struggled to recover until adopting its cryptocurrency accumulation approach. Despite the gains, the stock remains below its historical highs, suggesting potential for further growth as the company executes its vision.
