• Metaplanet raised $517M to expand Bitcoin holdings, targeting 210,000 BTC by 2027.

  • The 555 Million Plan involves issuing 555M shares to raise $5.4B for Bitcoin purchases.

  • U.S. subsidiary allocated $5B to leverage market liquidity for Bitcoin acquisitions.

  • Stock dropped 25% weekly despite 300% yearly gain, reflecting market volatility.

  • Bitcoin strategy risks include price fluctuations and regulatory challenges.

Japan-based investment firm Metaplanet has raised $517 million to expand its Bitcoin holdings in a significant step toward becoming a global leader in cryptocurrency treasury management. The funds, secured through the issuance of 54 million shares via stock acquisition rights, mark the first phase of the company’s “555 Million Plan” to acquire 1% of Bitcoin’s total supply by 2027.

Ambitious Bitcoin Acquisition Strategy

Metaplanet’s recent capital raise stems from the exercise of 540,000 Series-20 stock warrants by principal shareholder EVO Fund, generating 54 million new shares. This influx strengthens the company’s financial position, enabling further Bitcoin purchases. The firm aims to hold 30,000 BTC by the end of 2025 and 210,000 BTC by 2027, representing 1% of Bitcoin’s fixed 21 million supply.

The company currently holds 11,111 BTC, valued at approximately $1.12 billion, following a recent purchase of 1,111 BTC for $118.2 million. This acquisition, executed at an average price of $106,408 per Bitcoin, reflects Metaplanet’s aggressive accumulation strategy. The firm’s Bitcoin yield for 2025 stands at 306.7% year-to-date, showcasing strong returns on its crypto investments.

Metaplanet’s approach mirrors that of MicroStrategy, a U.S. firm known for its substantial Bitcoin treasury. By leveraging equity capital and stock acquisition rights, Metaplanet funds large-scale cryptocurrency purchases without diluting its existing shareholder base. The company also repaid its 16th, 17th, and 18th series of bonds, totaling $281 million, demonstrating financial discipline.

U.S. Expansion and Market Impact

Metaplanet has allocated $5 billion to its U.S. subsidiary, Metaplanet Treasury Corp, based in Florida, to accelerate Bitcoin acquisitions. The move taps into the U.S. market’s deep liquidity and favorable regulations, positioning the subsidiary as a hub for the company’s global treasury strategy. The firm aims to enhance shareholder value by capitalizing on Bitcoin’s potential as a long-term store of value.

The capital raise, representing 10% of the planned $5.4 billion under the 555 Million Plan, involved issuing shares at $9.59 each. Despite the influx, 1.31 million stock acquisition rights remain unexercised, potentially unlocking 131 million additional shares for future funding. This flexibility allows Metaplanet to adapt to market conditions while pursuing its Bitcoin goals.

However, the stock market response has been mixed. Metaplanet’s shares dropped 12% to 1,256 JPY on the day of the announcement, contributing to a 25% decline over the past week from a 12-year high of 1,900 JPY. Despite short-term volatility, the stock has surged over 300% in 2025, driven by optimism about Bitcoin’s future price, with some projections estimating $596,000 to $759,000 per coin.

The firm’s Bitcoin strategy carries risks, including price volatility, liquidity challenges, and regulatory scrutiny. Large-scale Bitcoin sales could impact market prices, and secure custody across jurisdictions remains a concern. Still, Metaplanet’s transparent treasury and innovative financing, such as zero-interest bonds, attract global investors seeking exposure to Bitcoin through corporate vehicles.

Metaplanet’s aggressive Bitcoin accumulation could influence market liquidity, potentially establishing new price floors for the cryptocurrency. The company’s rise to the eighth-largest corporate Bitcoin holder globally, surpassing firms like Coinbase, underscores its growing influence in the crypto space.

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