Metaplanet has announced the launch of a ¥770.9 billion (~$5.4 billion) Bitcoin-focused equity raise, aiming to issue 555 million shares via moving strike warrants. This makes it the first company in Japan to issue such warrants at a premium to market price. Metaplanet targets holding 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027, representing 1% of Bitcoin’s total eventual supply.