Metaplanet Announces Bold Plan to Acquire 210,000 BTC by 2027

Highlights:

• Metaplanet plans to buy 210,000 Bitcoin by 2027 using $5.4 billion raised through warrant-linked funding.
• Bitcoin ETFs are not available in Japan, so Metaplanet stock has become a popular choice for crypto exposure.
• Metaplanet’s total Bitcoin holdings have a value of more than $921 million.

Japanese investment firm Metaplanet, a publicly listed company, has announced a major capital raise to support its long-term Bitcoin acquisition strategy. The firm plans to collect ¥770 billion by issuing 555 million moving-strike warrants. These warrants represent a new kind of equity financing in Japan and will help the company expand its Bitcoin holdings to 210,000 BTC by the end of 2027.

Thrilled to announce Asia’s largest-ever equity raise to buy Bitcoin — again! 🚀 This time: $5.4 billion to accelerate our Bitcoin strategy. Our new target: 210,000 BTC by 2027.

Details here: https://t.co/ahL27o9QBg pic.twitter.com/njYybVq1uu

— Simon Gerovich (@gerovich) June 6, 2025

Metaplanet had set a target of 21,000 BTC by next year, but it has now revised its target upward. The company currently holds 8,888 BTC after purchasing 1,088 BTC recently for ¥16.9 billion, which is equal to about $117.5 million. The company set its earlier target, called the “21 Million Plan,” which it has now replaced with the more ambitious “555 Million Plan.” The firm’s revised roadmap sets out to acquire 30,000 coins of the top cryptocurrency by the end of this year. Moreover, it aims to have 100,000 BTC by the end of next year. The final phase comes in 2027 when it hopes to have 210,000 BTC.

Japan’s Largest Bitcoin Treasury Push Backed by Innovative Funding Model

To achieve this, Metaplanet has designed a warrant-based funding model that adjusts based on the market. The warrants, which will be issued in three series, are priced at a premium compared to recent share prices. The strike price has been set at ¥1,388 per share. These new equity instruments allow Metaplanet to collect capital while keeping shareholder dilution limited.

The company’s approach has already produced rapid results. Between earlier capital raises and market operations, Metaplanet grew its BTC holdings from 1,762 to 7,800 BTC in just 60 trading days. This resulted in what the firm calls an 189% BTC yield. Since the beginning of 2025, its share price has risen by 275%, bringing its total one-year gain to over 1,619%.

As of June 2025, Metaplanet’s total Bitcoin holdings have a value of more than $921 million, with a cost basis of ¥122.2 billion and an average purchase price of $93,354 per BTC. The company says it used non-dilutive debt and warrant-linked equity to fund these purchases. Its BTC yield for 2025 has reached 225.4%, and it expects to push that figure to 600% by year-end.

Long-Term Outlook and Role in Japan’s Markets

The firm has become one of the top ten public holders of Bitcoin, passing Block Inc. in recent weeks. It has modeled its acquisition strategy on MicroStrategy’s Bitcoin-focused financing methods. Data shows that 116 public companies now hold Bitcoin on their balance sheets, with recent additions such as GameStop and Swedish firm H100 joining the list. MicroStrategy still leads, with over 580,000 BTC valued at about $60.9 billion.

Metaplanet’s growing share in Bitcoin markets has been supported by strong demand for BTC exposure in Japan. Since there are no spot Bitcoin ETFs available domestically, investors use Metaplanet’s stock as a convenient way to gain access to the asset. The firm’s stock is now one of the most liquid in Japan. In addition, it is among the top performers in terms of market cap growth for the year.