Japanese crypto company Metaplanet plans to buy 21,000 Bitcoin by 2026

Japan’s Metaplanet has announced its ’21 Million Plan,’ which would make it Asia’s largest-ever equity capital raise for Bitcoin with a target of 16.65 billion yen.

The scheme involves issuing 21 million shares using moving strike warrants and breaks down into buying 10,000 Bitcoin by the end fo 2025 and another 21,000 by the end of 2026. That’s a total of 21,000 and is expected to raise 16.65 billion yen (the equivalent of $740 million on current exchange rates) as part of a corporate treasure plan. Shareholder value will be protected by setting the exercise price at 100% of the previous day’s closing level, to avoid dilution that some might fear.

“Since adopting the Bitcoin Standard on April 8, 2024, Metaplanet has experienced exponential growth,” said Simon Gerovich, Representative Director of Metaplanet in a public statement. “The market has recognized Metaplanet as Tokyo’s preeminent Bitcoin company, and we are seizing this momentum to solidify our position as a global leader.

“Our vision is to lead the Bitcoin renaissance in Japan and emerge as one of the largest corporate Bitcoin holders globally. This plan is our commitment to that future.”

If successful – or even if not – the 21 Million Plan would establish Metaplanet as one of the world’s largest corporate holders of Bitcoin. Today, it holds over $180 million worth of assets. It builds on Metaplanet making headlines throughout last year for buying large amounts of Bitcoin in multi-million dollar bundles.

In terms of financial yield moving forward, Metaplanet has forecast an expected 35% BTC Yield each quarter. That’s following on from achieving a 309.82% BTC Yield in the last quarter of 2024 following a 41.7% BTC Yield in the preceding quarter. According to Metaplanet, those figures highlight the success of its acquisition strategy so far.

“BTC Yield is the foundation of our strategy and the ultimate measure of our success,” said Dylan LeClair, Director of Bitcoin Strategy at Metaplanet in the same public statement. “We don’t measure performance in fiat currencies like the yen or the dollar—our benchmark is Bitcoin itself.

“Our mission is to maximize bitcoin per share for our shareholders. Bitcoin is not just an asset; it’s the exit strategy. We’re here to accumulate and lead, not sell.”

Shares of Metaplanet closed 5% higher on Wednesday, January 29, following the announcement on Tuesday, January 28.

Featured image: Midjourney

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