Metaplanet Launches Asia’s Largest Bitcoin-Focused Equity Raise

Metaplanet has started Asia’s most significant equity raise, which is dedicated to Bitcoin (BTC). The company plans to issue 555 million shares through special warrants in a capital raise worth about ¥770.9 billion, around $5.4 billion. 

This move aims to help the company grow its Bitcoin holdings and offer investors a new way to invest in the flagship crypto through the stock market.

Metaplanet To Raise $5.4 Billion to Buy More Bitcoin

Metaplanet’s CEO, Simon Gerovich, explained that the company will sell shares using moving strike warrants. These warrants are priced higher than the current market price, thanks to strong trading activity and Bitcoin’s price changes. 

The starting price for the new shares is ¥1,388, which is above recent closing prices. The company expects to finish this capital raise within six to ten months. On June 2, Metaplanet bought 1,088 Bitcoin for ¥16.9 billion, worth about $117.5 million. 

This purchase brings the company’s total Bitcoin stash to 8,888 BTC. With this amount, Metaplanet has become one of the world’s top ten publicly traded companies with the largest Bitcoin holdings.

This recent Bitcoin purchase follows a ¥50 billion, equivalent to $330 million, bond sale in May. Like many other Bitcoin-focused firms, Metaplanet is actively using different financial tools to buy more Bitcoin.

Metaplanet’s “210 Million Plan” Boosts Bitcoin and Share Price

Metaplanet’s current plan follows an earlier capital raise called the “210 Million Plan.” In 60 trading days, the company raised ¥93.3 billion, equivalent to $650 million, by issuing 210 million shares. 

Metaplanet’s Bitcoin holdings increased from 1,762 BTC to 7,800 BTC during this time. This is a 189% increase in Bitcoin per share, which the company tracks using an internal measure called the “BTC yield.” 

The company’s share price also tripled during this period. The Japan-based firm said it bought its latest Bitcoin at an average price of about $93,354 per coin. All Bitcoin purchases were funded using non-dilutive debt and warrants, which means the company did not dilute existing shareholders too much. 

Metaplanet’s BTC yield, which shows how much Bitcoin is held per share, rose to 225.4% this year. Furthermore, the firm plans to increase its Bitcoin holdings to 30,000 BTC by 2025. 

It also aims to hold 100,000 BTC by the end of 2026 and 210,000 BTC by 2027, which is about 1% of all Bitcoin in circulation. 

Metaplanet Brings Bitcoin to More Investors in Japan

Metaplanet is making it easier for Japanese investors to access Bitcoin. Since Japan has strict crypto rules, buying Bitcoin directly is hard. Metaplanet solves this by holding Bitcoin as a public company. 

Investors can buy its shares for Bitcoin exposure with tax benefits, NISA eligibility, and access via the Tokyo Stock Exchange. Metaplanet is now Japan’s most traded stock and one of the fastest-growing by market value this year.