Metaplanet has launched what it calls Asia’s largest fairness elevate devoted to Bitcoin. Based on CEO Simon Gerovich, the corporate is issuing 555 million shares via transferring strike warrants in a ¥770.9 billion ($5.4 billion) capital elevate.
The agency has additionally acquired 1,088 BTC for ¥16.9 billion ($117.5 million), growing its on-chain holdings to eight,888 BTC and positioning itself among the many asset’s ten largest public company holders.
The acquisition, executed on June 2, follows a ¥50 billion ($330 million) bond issuance in Could and coincides with a marked acceleration within the firm’s capital markets exercise concentrating on Bitcoin accumulation.
Metaplanet $5.4 billion Bitcoin plan
The brand new providing is structured as a third-party allotment throughout three warrant sequence, with pricing designed to regulate relative to market efficiency. Uniquely, the warrants are issued at a premium to market worth, enabled by the corporate’s elevated buying and selling liquidity and volatility.
The preliminary strike worth of ¥1,388 per share represents a premium over current closing costs. The corporate goals to finish the complete elevate over a projected six- to ten-month interval.
This improvement follows what Metaplanet known as its “210 Million Plan,” a capital elevate that introduced in ¥93.3 billion ($650 million) in simply 60 buying and selling days via the issuance of 210 million split-adjusted shares.
Throughout that interval, Bitcoin holdings grew from 1,762 BTC to 7,800 BTC, representing a 189% BTC yield, as outlined by the corporate’s inner metric that tracks the rise in BTC per totally diluted share excellent. The agency’s share worth has greater than tripled because the begin of that initiative.
As of June 2025, Metaplanet’s BTC holdings whole 8,888 BTC, acquired at a price foundation of ¥122.2 billion and a median worth of roughly $93,354 per coin. Per firm supplies, these holdings had been funded solely via non-dilutive debt and warrant-based fairness mechanisms.
The BTC yield KPI, which rose to 225.4% year-to-date, displays the agency’s central working goal: regularly rising Bitcoin per share via structured capital market operations. The corporate has additionally adjusted its year-end goal yield to 600% and outlined a ahead purpose of 30,000 BTC by the tip of 2025.
The way forward for Metaplanet
Metaplanet has disclosed revised long-term targets of buying 100,000 BTC by the tip of 2026 and 210,000 BTC by 2027, equal to roughly 1% of the overall Bitcoin provide. These figures characterize a fivefold improve in ambition in comparison with steering issued at first of the yr.
The corporate’s deck tasks future issuance eventualities and sensitivity analyses based mostly on assumed mNAV trajectories, with leverage utilized via a number of capital devices, together with transferring strike warrants and potential perpetual convertible securities.
The newest providing emphasizes Metaplanet’s rising function in bridging conventional capital markets and digital property in Japan, the place regulatory constraints proceed to restrict retail buyers’ entry to identify Bitcoin.
By working as a listed Bitcoin treasury automobile, the agency gives equity-based publicity in a tax-advantaged wrapper, with NISA eligibility and institutional entry throughout the TSE framework.
Metaplanet has emerged as Japan’s most liquid fairness by buying and selling quantity and one of many nation’s high performers year-to-date by market cap progress.
With warrant-based fundraising instruments, real-time treasury operations, and yield-oriented metrics driving shareholder engagement, the corporate has created an more and more financialized mannequin of Bitcoin accumulation.
