Metaplanet’s ¥770B stock rights move signals Japan’s largest Bitcoin treasury push, targeting 210K BTC by 2027.
Whale wallets absorbed $600M in BTC near $100K, while retail pulls back, revealing a clear shift in market control.
A new Hash Ribbon buy signal points to miner recovery, historically marking early stages of major Bitcoin rallies.
Metaplanet Inc. has announced a record-breaking ¥770.89 billion ($5.4 billion) stock acquisition rights issuance aimed at rapidly expanding its Bitcoin reserves. The program, dubbed the “555 Million Plan,” introduces Japan’s first-ever moving-strike warrants priced above market, marking a historic moment in the nation’s capital markets.
According to a report by Metaplanet, the offering involves 5.55 million units of stock acquisition rights across three series, entitling the purchase of 555 million shares. The initial exercise price of ¥1,388 per share resets every three trading days, tracking average closing prices. The firm expects to allocate ¥733.83 billion to buying Bitcoin, further positioning itself as a treasury-first Bitcoin enterprise.
BTC Reserve Strategy Tied to Market Entry Points
The announcement underscores Metaplanet’s goal of accumulating 210,000 BTC by 2027, 1% of the total supply. Its move lands amid a critical technical zone for Bitcoin price action. The average cost basis for short-term holders sits near $97.1K, with key support at $83.2K and resistance around $ 114.8 K. These price bands could dictate whether new institutional inflows trigger a sustained breakout or face near-term resistance.
Such timing appears intentional. With Metaplanet executing a long-term Bitcoin balance sheet strategy, broader market entry points now align with its reserve-building ambitions. The firm’s pivot reflects growing institutional confidence in BTC as a strategic reserve asset, not merely a speculative holding.
Institutional Buying Strengthens While Retail Retreats
Momentum in Bitcoin markets is increasingly driven by deep-pocketed players. As CW highlighted, whale wallets placing $1M–$10M trades are dominating order books. CVD data from Material Indicators showed a $600 million surge in whale accumulation between May 31 and June 4, just as prices bounced from sub-$100K lows.
https://twitter.com/CW8900/status/1931022373463192005
This shift comes as retail exits and mid-tier traders pull back. Liquidity clusters around $105K–$106K suggest strong price defense zones. Analysts are now eyeing new highs, citing recurring patterns that have consistently emerged before BTC surges.
Hash Ribbon Signal Confirms Miner Recovery and Macro Strength
Reinforcing the bullish momentum, a new Hash Ribbon buy signal has emerged. The crossover of Bitcoin’s 30-day and 60-day hash rate averages, an indicator long seen as a mark of miner recovery and macro price stability. This signal has preceded nearly every major BTC rally since 2010.
With on-chain fundamentals improving, liquidity consolidating, and strategic treasury movements accelerating, the current alignment between institutional activity and mining stability could set the stage for Bitcoin’s next macro leg higher.
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