Unveiling Metaplanet's Bitcoin Buying Spree
Metaplanet Seeks to Amass $5.3 Billion for Purchasing Additional Bitcoin Assets
In a bold move, Japanese Bitcoin treasury Metaplanet has unveiled a plan to significantly boost its Bitcoin portfolio. Known as the "555 Million Plan", this initiative marks a significant step up from the "21 Million Plan" that aimed for 21,000 BTC by 2026. However, rapid progress - with Metaplanet holding 8,888 BTC as of June 2, 2025 - has escalated the target to an astounding 210,000 BTC by 2027.
To fund this ambitious endeavor, Metaplanet plans to raise approximately ¥770.9 billion (around $5.4 billion) by selling 555 million shares through stock acquisition rights. This move deviates from the traditional 8 to 10 percent discount for similar financings, with Metaplanet's CEO, Simon Gerovich, declaring the pricing "ABOVE market" as a "notable departure".
Gerovich sees Bitcoin as setting a new benchmark for capital formation, providing a solid hedge against economic challenges such as negative interest rates and a weakening yen in Japan. Metaplanet, often labeled "Asia's MicroStrategy", started buying Bitcoin last year and has since made it the core focus of its operations. The company's ultimate goal is to acquire 1% of the Bitcoin supply.
On the stock market, Metaplanet's shares saw a 24% uptick on Friday, reflecting investor confidence in the company's Bitcoin-centric future. The heightened optimism has pushed the share price up over 600% over the past year. Metaplanet, much like its counterpart Strategy (formerly MicroStrategy), buys Bitcoin and allows shareholders to gain exposure to the asset without the risks involved in direct possession. Strategy leads the corporate world as the largest Bitcoin holder, with 580,250 virtual coins under its belt.
The price of Bitcoin has recently crossed $105,000 per coin, experiencing a 1.1% increase over the past 24 hours. The cryptocurrency started rallying after a two-week slump in which it lost 4% of its value. Metaplanet's ambitious plan solidifies the company's position as a major player in the Bitcoin market, positioning itself to control a significant portion of the total supply.
- Metaplanet's bold move involves raising approximately $5.4 billion through selling 555 million shares to significantly boost its Bitcoin portfolio, a plan called the "555 Million Plan."
- The CEO, Simon Gerovich, believes Bitcoin offers a solid hedge against economic challenges like negative interest rates and a weakening yen in Japan, making it the core focus of Metaplanet's operations.
- Metaplanet aims to acquire 1% of the Bitcoin supply, a goal that is being funded by selling shares and is reflected in the company's growing share price, which has risen over 600% over the past year.
- With the price of Bitcoin crossing $105,000 per coin and the cryptocurrency rallying after a two-week slump, Metaplanet's plan solidifies its position as a major player in the Bitcoin market, positioning itself to control a significant portion of the total supply.
